Its about time Tesla finally is going to become an industry monster.

Here is a snippet from that article.

Hey if they are looking for some great consulting, you know where to find us. lol

SAN FRANCISCO (Reuters) — U.S. electric sports car maker Tesla Motors filed for an initial public offering of up to $100 million, aiming to cash in on growing investor interest in battery-powered vehicles and green technology.

Tesla Is Finally A Industry Player

The IPO filing on Friday from the six-year-old start-up, best known for its $109,000 all-electric Roadster, represents a landmark in the resurgence of electric car technology that most carmakers until recently had dismissed as impractical……

Tesla is a small player with a high-end market and limited production, but hopes the Model S electric sedan will broaden its potential market.

It has received about 2,000 reservations for the car, which is being designed as a four-door, five-passenger premium sedan with an additional third row with two rear-facing child seats. It has a base price of $49,900.

This is an update regarding the sale of the Hummer brand to China’s Tengzhong; the deal was proposed at $500 million but now it seems like the deal will only be worth about $100 million.

The Hummer Brand is being bought by China

Chinese machinery maker Tengzhong is still working to buy General Motors Co.’s Hummer brand after a regulatory setback, Chinese media reported.

China’s Ministry of Commerce, which must approve the Hummer acquisition, had turned back the application because it was lacking detail, the Legal Evening News reported.

“We are still trying hard,” an unnamed spokesman for Tengzhong was quoted as saying in response by China News Service.

The deal would mark the first major Chinese acquisition of a distressed U.S. auto asset during the current economic downturn.

Sichuan Tengzhong Heavy Industrial Machinery, a little-known firm based in land-locked southwest China, raised eyebrows when the deal for the premium off-road Hummer brand came to light three months ago.

Tengzhong’s bid for Hummer requires approval in China from both the commerce ministry and the National Development and Reform Commission, a powerful planning agency.

- This move have been in the workings for some time now. It seems there is alot of red tape concerning this deal. 

I don’t know what would possess GM to sell this brand,  although times a rough now things will turn around eventually. But none the less money has to be made and GM has been taking too many losses to keep the brand on board.

So anyone with a Hummer hold on to it; hey maybe it wil become an collectors item.  

Source: http://www.autonews.com/apps/pbcs.dll/article?AID=/20090908/ANA02/309079909/1263&AssignSessionID=373326151678011