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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  
Author Topic: Abu Dhabi sells stake in Tesla electric car firm Back to Topics
REPLIES (newest first) Post a Reply
MJIOWA
Champion Author Iowa

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Message Posted: Apr 9, 2012 12:09:33 PM

NOT FOR ME
Bigtex09
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Message Posted: Apr 9, 2012 12:09:30 PM

joke issue
2granny
Champion Author Michigan

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Message Posted: Apr 9, 2012 12:09:21 PM

Good question, dieselme2011.
dynamouse
Champion Author Michigan

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Message Posted: Apr 9, 2012 12:08:46 PM

WHAT
IMLURCH
Champion Author Minnesota

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Message Posted: Apr 9, 2012 12:07:48 PM

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.
FlyNFool
Champion Author South Carolina

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Message Posted: Apr 9, 2012 12:05:46 PM

Rats jumping from the sinking ship?
jpj23
Champion Author Los Angeles

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Message Posted: Apr 9, 2012 12:03:50 PM

And just how does this affect the price of gas at the pump?

Useless trivia.
67yenko
Champion Author Mississippi

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Message Posted: Apr 9, 2012 12:03:49 PM

leaving quicker then the italian captain in a sinking ship....
PrinceLH
Champion Author Ontario

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Message Posted: Apr 9, 2012 12:03:07 PM

Follow the money.
bicycler
Champion Author Ontario

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Message Posted: Apr 9, 2012 12:02:47 PM

Are they deserting he sinking ship? Or are they looking for profits today?
CPayZombie
Champion Author Phoenix

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Message Posted: Apr 9, 2012 12:02:37 PM

Teddy95 has a Hummer.

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

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Message Posted: Apr 9, 2012 12:00:45 PM

Pride - and profit - often come BEFORE a fall. Tesla will fall/fail.
nomad228
Champion Author Columbus

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Message Posted: Apr 9, 2012 12:00:10 PM

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.:)
Gropitou
Veteran Author Montreal

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Message Posted: Apr 9, 2012 11:59:44 AM

Profits not big enough...
smoketown
Champion Author Cincinnati

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Message Posted: Apr 9, 2012 11:58:36 AM

Can't say i would blame them.............
nomad228
Champion Author Columbus

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Message Posted: Apr 9, 2012 11:56:12 AM

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 :)
Teddy95
Champion Author Dayton

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Message Posted: Apr 9, 2012 11:55:41 AM

Hummmm....
GRUMPY55
Champion Author California

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Message Posted: Apr 9, 2012 11:55:28 AM

ok
dieselme2011
Champion Author British Columbia

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Message Posted: Apr 9, 2012 11:55:12 AM

Why sell now when they claim to be getting profitable?
dlzastera
Champion Author Minnesota

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Message Posted: Apr 9, 2012 11:54:49 AM

oh well.
bbthegun
Champion Author San Diego

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Message Posted: Apr 9, 2012 11:53:19 AM

Electrical cars are still 'not ready for primetime' despite the push from the green-freak left. Smart move.
chyguy3
Champion Author Wyoming

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Message Posted: Apr 9, 2012 11:53:15 AM

It's so they could afford to buy Tesla cars when they have all the bugs worked out, nanookak.
NanookAK
Champion Author Anchorage

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Message Posted: Apr 9, 2012 11:52:06 AM

And so why did Abu Dhabi sell it's stake?
cutter1330
Champion Author Oklahoma

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Message Posted: Apr 9, 2012 11:51:53 AM

When these sheiks say they don't have money to waste
on these ventures, our tax dollars shouldn't be either.
payogie
Champion Author Atlanta

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Message Posted: Apr 9, 2012 11:51:27 AM

Who cares?
Sha10
Veteran Author Toronto

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Message Posted: Apr 9, 2012 11:51:20 AM

A profitable player in the electric cars
trojanbuck
Champion Author Dayton

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Message Posted: Apr 9, 2012 11:50:43 AM

Apparently, the smart money is getting out while the getting is good.
q2
Champion Author Alberta

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Message Posted: Apr 9, 2012 11:50:35 AM

oh well
wulf2000
Champion Author Miami

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Message Posted: Apr 9, 2012 11:50:09 AM

What does it mean?

Selling 7% of its shares is not that much.
JoeKR
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Message Posted: Apr 9, 2012 11:49:10 AM

A positive for alternative energy!
Amanstrom
Champion Author Los Angeles

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Message Posted: Apr 9, 2012 11:48:12 AM

Interesting
Thomtec
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Message Posted: Apr 9, 2012 11:46:59 AM

ok
Rehorsehay
All-Star Author California

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Message Posted: Apr 9, 2012 11:45:05 AM

okay
belladog
Champion Author Mobile

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Message Posted: Apr 9, 2012 11:44:33 AM

whoopeee
Anoyed
Rookie Author Chicago

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Message Posted: Apr 9, 2012 11:43:40 AM

Abu Dhabi needs the money........
HA.HA.HA.HA.HA.HA........
miser709
Champion Author Grand Rapids

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Message Posted: Apr 9, 2012 11:42:58 AM

Useless information as far as I'm concerned.
Travel1st
Champion Author Las Vegas

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Message Posted: Apr 9, 2012 11:42:44 AM

And they have unlimited funds.
sciotosix
Champion Author Dayton

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Message Posted: Apr 9, 2012 11:41:58 AM

They must know something.
LostToo
Champion Author Illinois

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Message Posted: Apr 9, 2012 11:41:23 AM

They should give me one as a free sample I will promote it for them. I don't mind being a ginnypig.
pnd1
Champion Author Tallahassee

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Message Posted: Apr 9, 2012 11:41:00 AM

They probably made a bigger profit by selling it than by owning it!
SwordsGas
Rookie Author Fort Worth

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Message Posted: Apr 9, 2012 11:40:24 AM

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!
drobbbb
Champion Author Maryland

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Message Posted: Apr 9, 2012 11:40:04 AM

interesting
SandeeC
Champion Author Ontario

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Message Posted: Apr 9, 2012 11:39:59 AM

Not surprising.
Radon
Champion Author Hartford

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Message Posted: Apr 9, 2012 11:39:39 AM

Gas prices?
sailormon
Champion Author Michigan

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Message Posted: Apr 9, 2012 11:36:52 AM

"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!
mnbeancounter
Champion Author Minnesota

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Message Posted: Apr 9, 2012 11:35:33 AM

interesting
4064BORI
Champion Author Virginia Beach

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Message Posted: Apr 9, 2012 11:35:27 AM

Ok
dinomen
Champion Author Arkansas

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Message Posted: Apr 9, 2012 11:34:56 AM

I'll pass.
zaq001
Champion Author Atlanta

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Message Posted: Apr 9, 2012 11:33:09 AM

Not a big surprise. They need money faster.
dsaine
Champion Author North Carolina

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Message Posted: Apr 9, 2012 11:33:05 AM

Ok
humblepie
Champion Author Toledo

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Message Posted: Apr 9, 2012 11:32:41 AM

alot more poor folk then rich folk
twinfanMN
Champion Author Minnesota

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Message Posted: Apr 9, 2012 11:32:38 AM

Make these electric cars affordable
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