Not Logged In Log In   Sign Up   Points Leaders
Follow Us    11:55 PM

GasBuddy News Article

46
votes
Abu Dhabi sells stake in Tesla electric car firm

BBC News -- State owned power supplier Abu Dhabi National Energy (TAQA) has sold its 7% stake in US electric carmaker Tesla.

TAQA, three-quarter owned by the government, said it made a profit of $113m (£71m) on the sale.

Tesla was founded in 2003 and its best car is the 2008 Tesla Roadster, which is sold in 32 countries.

The company, which also has part shares owned by carmakers Daimler and Toyota, has seen its 2010 share listing price of $10 double since then.

Tesla expects to become profitable in 2013 and envisages a tripling of revenues this, helped by July deliveries of its premium electric car, the Model S.


Read the Full Article

Submitted Apr 09, 2012 By: dasAuto
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Abu Dhabi sells stake in Tesla electric car firm Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
dsaine
Champion Author North Carolina

Posts:5,765
Points:1,242,845
Joined:May 2011
Message Posted: Apr 9, 2012 8:33:05 AM

Ok
Profile Pic
humblepie
Champion Author Toledo

Posts:57,716
Points:2,985,895
Joined:Mar 2006
Message Posted: Apr 9, 2012 8:32:41 AM

alot more poor folk then rich folk
Profile Pic
twinfanMN
Champion Author Minnesota

Posts:2,837
Points:784,275
Joined:Jun 2011
Message Posted: Apr 9, 2012 8:32:38 AM

Make these electric cars affordable
Profile Pic
Double_Golden
Champion Author San Francisco

Posts:4,085
Points:1,068,685
Joined:Aug 2011
Message Posted: Apr 9, 2012 8:30:46 AM

ok
Profile Pic
adr47
Champion Author Saskatchewan

Posts:5,667
Points:1,366,800
Joined:Nov 2008
Message Posted: Apr 9, 2012 8:29:45 AM

High end od electric = limited market
Profile Pic
sljbc475
Champion Author Tucson

Posts:6,823
Points:1,480,625
Joined:Dec 2010
Message Posted: Apr 9, 2012 8:28:36 AM

Tesla probably wont last as long as the other car makers.
Profile Pic
humancry
Champion Author Michigan

Posts:4,745
Points:1,035,625
Joined:Nov 2006
Message Posted: Apr 9, 2012 8:27:41 AM

WELL THEY SELL THERE MOTHERS WHY NOT!
Profile Pic
Old Timer
Champion Author Akron

Posts:6,275
Points:1,859,620
Joined:Sep 2003
Message Posted: Apr 9, 2012 8:27:25 AM

Cost too much
Profile Pic
JagXKR
Champion Author British Columbia

Posts:5,721
Points:1,699,035
Joined:Dec 2009
Message Posted: Apr 9, 2012 8:27:11 AM

Sporty golf carts.
Profile Pic
DrCashFlow
Champion Author Massachusetts

Posts:9,577
Points:2,220,760
Joined:Jun 2008
Message Posted: Apr 9, 2012 8:26:59 AM

not a surprise. overvalued
Profile Pic
yakstar
Champion Author Montreal

Posts:4,840
Points:1,068,150
Joined:Jan 2012
Message Posted: Apr 9, 2012 8:26:04 AM

not who did they sell to but why?
Profile Pic
PerSonneL
Champion Author Alberta

Posts:1,188
Points:736,915
Joined:Mar 2008
Message Posted: Apr 9, 2012 8:26:03 AM

wow..good sign?
Profile Pic
mikesr100
Champion Author Sacramento

Posts:6,539
Points:1,692,815
Joined:Apr 2008
Message Posted: Apr 9, 2012 8:25:47 AM

People that care about gas prices aren't going to by a Tesla
Profile Pic
guru36525
Veteran Author Montgomery

Posts:441
Points:1,003,805
Joined:Mar 2005
Message Posted: Apr 9, 2012 8:25:36 AM

all of a sudden, money is running from solar...hmmm...glad I didn't invest any
Profile Pic
cssco
Champion Author Virginia

Posts:9,854
Points:2,350,015
Joined:Feb 2006
Message Posted: Apr 9, 2012 8:24:59 AM

I am retaining my shares for a rainy day.
Profile Pic
Blazer197
Champion Author New Haven

Posts:3,601
Points:756,605
Joined:Feb 2009
Message Posted: Apr 9, 2012 8:22:08 AM

WHO THE HELL CARES.
Profile Pic
mnorthwood13
Champion Author Michigan

Posts:1,397
Points:808,850
Joined:Apr 2010
Message Posted: Apr 9, 2012 8:21:51 AM

This is bad for Tesla. Such a promising group for electric car design.
Profile Pic
Group23
Champion Author Greensboro

Posts:1,244
Points:439,435
Joined:May 2006
Message Posted: Apr 9, 2012 8:20:31 AM

Who did they sell TO?
Profile Pic
jamieg2012
Veteran Author Sioux Falls

Posts:286
Points:11,385
Joined:Jan 2012
Message Posted: Apr 9, 2012 8:20:29 AM

from all the info i get the tesla is so expensive it is not a realistic car

sure if you have billions to play with then you can do what you want but the average person this is not realistic
Profile Pic
eights
Champion Author Ohio

Posts:2,284
Points:641,995
Joined:Aug 2006
Message Posted: Apr 9, 2012 8:20:27 AM

go figure with gas at this price. i wonder if they have stock in these electric cars?
Profile Pic
Rick01
Champion Author Utah

Posts:11,644
Points:2,963,230
Joined:Sep 2005
Message Posted: Apr 9, 2012 8:19:39 AM

Decided it wasn't a good investment?
Profile Pic
greenfog
Champion Author Illinois

Posts:9,102
Points:2,242,025
Joined:Feb 2008
Message Posted: Apr 9, 2012 8:18:09 AM

opec countries investing in electric cars, makes you think about it!
Profile Pic
NGEFE
All-Star Author Provo

Posts:577
Points:949,690
Joined:Jun 2011
Message Posted: Apr 9, 2012 8:17:21 AM

they will never completely grow in acceptance until you can go 400 miles on a charge and only take 10 minutes (or less) to recharge. Oh and the price needs to be in line with a real car - both purchase price and maintenance costs.
Profile Pic
esquared
Champion Author Oklahoma City

Posts:10,131
Points:2,478,295
Joined:Jan 2006
Message Posted: Apr 9, 2012 8:17:00 AM

The weakness of abbreviated (or poor) journalism: Abu Dhabi sells...to WHOM?!
Profile Pic
Ticobird
Champion Author Huntsville

Posts:5,047
Points:1,644,155
Joined:Oct 2009
Message Posted: Apr 9, 2012 8:16:58 AM

The story is newsworthy but I would have appreciated one more little bit of information pertaining to the story and that is who did Abu Dhabi sell their stake to? What is passing for news reporting these days? At the least the reporter could have disclosed the Tesla buyer remained anonymous if it is truly permissible to remain anonymous. I don't know.
Profile Pic
ModelWarships
Champion Author Missouri

Posts:7,513
Points:1,652,860
Joined:Jul 2008
Message Posted: Apr 9, 2012 8:15:48 AM

oh oh, another bankruptcy in the making?
Profile Pic
NorthglennBill
Champion Author Denver

Posts:9,931
Points:2,066,025
Joined:Oct 2008
Message Posted: Apr 9, 2012 8:15:25 AM

Electric vehicles continue to grow in acceptance.
Profile Pic
lucky69
Champion Author Austin

Posts:2,930
Points:1,964,645
Joined:May 2008
Message Posted: Apr 9, 2012 8:15:15 AM

that is good to hear.
Profile Pic
TAT36
Champion Author Florida

Posts:9,497
Points:1,906,040
Joined:Sep 2009
Message Posted: Apr 9, 2012 8:13:11 AM

fatboy97 - You are right a year does not seem long if you are going to make a profit. Maybe just not as much as they made on the sale. Do we have any subsidy tax money in Tesla? Just askin.
Profile Pic
GManCo
Champion Author Colorado Springs

Posts:7,552
Points:1,556,485
Joined:Sep 2010
Message Posted: Apr 9, 2012 8:11:55 AM

Most of these are going to go under or loose a lot of money. People don't want them.
Profile Pic
wingryder92
Champion Author British Columbia

Posts:9,689
Points:1,165,355
Joined:Apr 2011
Message Posted: Apr 9, 2012 8:11:06 AM

Interesting insight by fatboy97, bears looking into!!
Profile Pic
CrappieFool
Champion Author Alabama

Posts:1,054
Points:1,131,360
Joined:Apr 2009
Message Posted: Apr 9, 2012 8:10:15 AM

Where is the Tesla economy priced car?
Profile Pic
TRAIN RIDER
Champion Author San Bernardino

Posts:11,690
Points:3,365,700
Joined:Oct 2004
Message Posted: Apr 9, 2012 8:09:40 AM

No wonder since Tesla is having financial problems.
Profile Pic
honkerman
Champion Author San Jose

Posts:61,232
Points:3,010,205
Joined:Jul 2004
Message Posted: Apr 9, 2012 8:09:11 AM

fatboy97, that's a very good and perceptive question.
Profile Pic
tampacrvdriver
Champion Author Tampa

Posts:4,263
Points:1,125,600
Joined:May 2011
Message Posted: Apr 9, 2012 8:08:49 AM

I'm not surprised.
Profile Pic
OldMoses
All-Star Author Atlanta

Posts:844
Points:66,310
Joined:Sep 2008
Message Posted: Apr 9, 2012 8:08:43 AM

It was already profitable for the investors.
Profile Pic
mazdaboy
Champion Author Portland

Posts:10,446
Points:2,692,460
Joined:Aug 2003
Message Posted: Apr 9, 2012 8:08:17 AM

Either he's stupid or the buyer is.
Profile Pic
fatboy97
Champion Author Twin Cities

Posts:5,095
Points:2,315,775
Joined:Aug 2007
Message Posted: Apr 9, 2012 8:06:30 AM

If it's going to be profitable next year, why would someone sell their shares???
Profile Pic
OldMoses
All-Star Author Atlanta

Posts:844
Points:66,310
Joined:Sep 2008
Message Posted: Apr 9, 2012 8:05:52 AM

The Tesla stock doubled in value and the investors sold it and took the profit. It doesn't really mean anything.
Profile Pic
grammamNV
Champion Author Nevada

Posts:2,335
Points:372,425
Joined:Mar 2011
Message Posted: Apr 9, 2012 8:04:49 AM

okie-dokie
Profile Pic
peanutsMN
Champion Author Twin Cities

Posts:3,807
Points:889,305
Joined:Jul 2011
Message Posted: Apr 9, 2012 8:03:10 AM

OK
Profile Pic
cmsense
Champion Author Columbus

Posts:1,358
Points:165,345
Joined:Jan 2012
Message Posted: Apr 9, 2012 8:02:06 AM

Once R&D produce a battery that pushes recharging to 400 miles, and can be quick charged, electric cars will become common.
Profile Pic
AriesMMD
Champion Author Sacramento

Posts:2,891
Points:943,070
Joined:Dec 2011
Message Posted: Apr 9, 2012 8:01:53 AM

Eventually the price will drop, like what has happened to big screen TV's, computers and soon smart phones
Profile Pic
YaBassa
Champion Author Michigan

Posts:5,071
Points:1,129,200
Joined:Nov 2011
Message Posted: Apr 9, 2012 8:00:40 AM

Tesla is still too expensive, buy a Volt.
Profile Pic
swede
Champion Author Cleveland

Posts:5,314
Points:2,238,425
Joined:Feb 2003
Message Posted: Apr 9, 2012 7:59:45 AM

I would like to see how profitable it is. If the Saudi's thought it was profitable they would not have sold it.
Profile Pic
unicornpmb
Champion Author Buffalo

Posts:11,124
Points:2,241,695
Joined:Sep 2005
Message Posted: Apr 9, 2012 7:59:21 AM

Not one in my future.
Profile Pic
lordaaron
Champion Author Bakersfield

Posts:3,940
Points:769,205
Joined:Mar 2012
Message Posted: Apr 9, 2012 7:58:58 AM

@ taxiken - I see a Tesla regularly here in Bakersfield. The funny part is I think someone in the oil industry drives it. Of course, they are about the only ones who can afford them.
Profile Pic
snappytom2
Champion Author Corpus Christi

Posts:5,722
Points:384,925
Joined:Jul 2008
Message Posted: Apr 9, 2012 7:57:32 AM

Teslas are high dollar electric Tonka toys, not for the average car buyer.
Profile Pic
Rageagainsttm
Champion Author Tampa

Posts:10,772
Points:2,495,210
Joined:Jul 2007
Message Posted: Apr 9, 2012 7:57:12 AM

cool
Profile Pic
Marken79
Rookie Author Iowa

Posts:58
Points:25,345
Joined:Mar 2012
Message Posted: Apr 9, 2012 7:55:18 AM

The govt. whants you to use more electric vehicals but cant understand why people wont buy thim. IT COST TO MUCH...
Profile Pic
30mpg80
Champion Author Lexington

Posts:14,411
Points:2,099,830
Joined:Nov 2008
Message Posted: Apr 9, 2012 7:55:16 AM

Electric vehicles only need to be 'accepted' by the buyers, and it doesn't matter what anyone else thinks about it!
Profile Pic
tobasco
Champion Author Los Angeles

Posts:7,646
Points:2,576,120
Joined:Mar 2004
Message Posted: Apr 9, 2012 7:54:29 AM

Nothing more than collectors will buy these.
Post a reply Back to Topics