Tesla worth half of GM? | Rpmgo.com

I know this might sound incredible, but according to an article from Bloomberg, Californian startup Tesla Motors could be worth half of GM. This is based on last week’s announcement that Daimler has acquired about 9% for a total of $50 million, which values Tesla at $550 million, which is about 47% of how much GM is worth, according to yesterday’s stock price.

I’m saying this is unbelievable because let’s look at the figures. Last year, GM sold 8.35 million vehicles worldwide, bringing in $149 billion in revenue. Comparing to that, Tesla sold 450 Roadsters, which means they had around $45 million in revenue. However, Tesla’s co-founder, Marc Tarpennin, who’s the company’s former vice president of engineering and a current shareholder, says the two companies can’t really be compared, because everyone expects GM to file for bankruptcy on June 1, which explains the very low share price.

Tesla Motors was founded in 2003 and since then it raised about $200 million in private capital, including more than $70 million from Elon Musk (founder of the popular payment system PayPal) and other investments from Google’s founders, Larry Page and Sergey Brin and VantagePoint Venture Partners. Also, according to the company’s Securities and Exhange Comission filing, the investors converted $86.2 million of bonds into stock, erasing all of Tesla’s debt.

[Source: Bloomberg]

Post tags : Tesla, tesla motors