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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.

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Submitted Apr 09, 2012 By: dasAuto
Category: Daily News Article Discussions > Topics Add to favorite topics  
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kosciak
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Message Posted: Apr 9, 2012 12:10:22 PM
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ok
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MJIOWA
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Message Posted: Apr 9, 2012 12:09:33 PM
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NOT FOR ME
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Bigtex09
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joke issue
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2granny
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Message Posted: Apr 9, 2012 12:09:21 PM
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Good question, dieselme2011.
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dynamouse
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Message Posted: Apr 9, 2012 12:08:46 PM
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WHAT
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IMLURCH
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Message Posted: Apr 9, 2012 12:07:48 PM
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Made their money and they got out with a profit good for their business but could be bad for the company they sold their stock in.
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FlyNFool
Champion Author South Carolina

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Message Posted: Apr 9, 2012 12:05:46 PM
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Rats jumping from the sinking ship?
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jpj23
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Message Posted: Apr 9, 2012 12:03:50 PM
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And just how does this affect the price of gas at the pump?

Useless trivia.
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67yenko
Champion Author Mississippi

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Message Posted: Apr 9, 2012 12:03:49 PM
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leaving quicker then the italian captain in a sinking ship....
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PrinceLH
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Message Posted: Apr 9, 2012 12:03:07 PM
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Follow the money.
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bicycler
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Message Posted: Apr 9, 2012 12:02:47 PM
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Are they deserting he sinking ship? Or are they looking for profits today?
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CPayZombie
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Teddy95 has a Hummer.

The ship is sinking and the smart ones are getting out.
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CaptDave2012
All-Star Author Arkansas

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Message Posted: Apr 9, 2012 12:00:45 PM
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Pride - and profit - often come BEFORE a fall. Tesla will fall/fail.
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nomad228
Champion Author Columbus

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Message Posted: Apr 9, 2012 12:00:10 PM
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just buy yourself a lotus elise and have it switched over to liquified methane gas. then you can smoke the tires and still afford to get it repaired in your own state/country.at a third of the price.:)
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Gropitou
Veteran Author Montreal

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Profits not big enough...
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smoketown
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Can't say i would blame them.............
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nomad228
Champion Author Columbus

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Message Posted: Apr 9, 2012 11:56:12 AM
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yes, for 109000 dollars for a base model :) you too can have a tesla roadster and then pay triple for insurance and triple for any and all repairs. : ) pure genius.and no car dealer in your area will be a tesla roadster trained mechanic. i can just see it now you have to send the car all the way back to menlo park california to have the battery changed out or any electrical work.just give me a 4x4 1957 chevy truck with a liquified methane gas powered v8 350/700r chevy drive train in it. they can take the tesla and park it in a museum some where in norfolk england that is.hahahahahahaha :)
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Teddy95
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Message Posted: Apr 9, 2012 11:55:41 AM
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Hummmm....
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GRUMPY55
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ok
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dieselme2011
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Message Posted: Apr 9, 2012 11:55:12 AM
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Why sell now when they claim to be getting profitable?
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dlzastera
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Message Posted: Apr 9, 2012 11:54:49 AM
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oh well.
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bbthegun
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Message Posted: Apr 9, 2012 11:53:19 AM
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Electrical cars are still 'not ready for primetime' despite the push from the green-freak left. Smart move.
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chyguy3
Champion Author Wyoming

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Message Posted: Apr 9, 2012 11:53:15 AM
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It's so they could afford to buy Tesla cars when they have all the bugs worked out, nanookak.
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NanookAK
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Message Posted: Apr 9, 2012 11:52:06 AM
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And so why did Abu Dhabi sell it's stake?
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cutter1330
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Message Posted: Apr 9, 2012 11:51:53 AM
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When these sheiks say they don't have money to waste
on these ventures, our tax dollars shouldn't be either.
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payogie
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Message Posted: Apr 9, 2012 11:51:27 AM
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Who cares?
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Sha10
Veteran Author Toronto

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Message Posted: Apr 9, 2012 11:51:20 AM
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A profitable player in the electric cars
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trojanbuck
Champion Author Dayton

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Message Posted: Apr 9, 2012 11:50:43 AM
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Apparently, the smart money is getting out while the getting is good.
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q2
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oh well
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wulf2000
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Message Posted: Apr 9, 2012 11:50:09 AM
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What does it mean?

Selling 7% of its shares is not that much.
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JoeKR
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A positive for alternative energy!
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Amanstrom
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Interesting
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Thomtec
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ok
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Rehorsehay
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okay
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belladog
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whoopeee
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Anoyed
Rookie Author Chicago

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Message Posted: Apr 9, 2012 11:43:40 AM
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Abu Dhabi needs the money........
HA.HA.HA.HA.HA.HA........
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miser709
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Useless information as far as I'm concerned.
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Travel1st
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Message Posted: Apr 9, 2012 11:42:44 AM
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And they have unlimited funds.
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sciotosix
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They must know something.
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LostToo
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They should give me one as a free sample I will promote it for them. I don't mind being a ginnypig.
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pnd1
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Message Posted: Apr 9, 2012 11:41:00 AM
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They probably made a bigger profit by selling it than by owning it!
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SwordsGas
Rookie Author Fort Worth

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Message Posted: Apr 9, 2012 11:40:24 AM
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Best line in the whole article: "Tesla expects to become profitable in 2013 and envisages a tripling of revenues".

Cross your fingers and wish harder!
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drobbbb
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Message Posted: Apr 9, 2012 11:40:04 AM
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interesting
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SandeeC
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Not surprising.
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Radon
Champion Author Hartford

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Gas prices?
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sailormon
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Message Posted: Apr 9, 2012 11:36:52 AM
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"Tesla was founded in 2003 and its best car is the 2008 Tesla Roadster, which is sold in 32 countries."

NO! It's best KNOWN car is the Roadster. It's BEST CAR is the model S, soon to be surpassed by the model X!
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mnbeancounter
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interesting
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4064BORI
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Ok
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dinomen
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I'll pass.
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zaq001
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Not a big surprise. They need money faster.
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dsaine
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Ok
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humblepie
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alot more poor folk then rich folk
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