Not Logged In Log In   Sign Up   Points Leaders
Follow Us    8:22 AM

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
tobasco
Champion Author Los Angeles

Posts:7,836
Points:2,834,460
Joined:Mar 2004
Message Posted: Apr 9, 2012 9:54:29 AM

Nothing more than collectors will buy these.
Profile Pic
taxiken
Champion Author Twin Cities

Posts:9,045
Points:2,300,000
Joined:Feb 2003
Message Posted: Apr 9, 2012 9:54:23 AM

Has anyone ever seen a Telsa?
Profile Pic
Prodaddy
Champion Author Houston

Posts:11,957
Points:2,788,365
Joined:May 2007
Message Posted: Apr 9, 2012 9:53:32 AM

I can't afford one
Profile Pic
Don20
Champion Author Oklahoma City

Posts:13,305
Points:3,503,260
Joined:Mar 2005
Message Posted: Apr 9, 2012 9:51:53 AM

In order the purchase one you have to have more money than you can count..
Profile Pic
bell05
Champion Author Atlanta

Posts:30,591
Points:2,829,460
Joined:Jun 2005
Message Posted: Apr 9, 2012 9:51:11 AM

Wished I could afford one.
Profile Pic
Tegger
Champion Author Ontario

Posts:6,688
Points:2,625,390
Joined:Nov 2005
Message Posted: Apr 9, 2012 9:50:56 AM

OK
Profile Pic
Norm10
Champion Author British Columbia

Posts:6,132
Points:314,175
Joined:Dec 2010
Message Posted: Apr 9, 2012 9:50:06 AM

Smart move - there are only so many rich people looking to buy an expensive green status symbol to park in their driveways.
Profile Pic
Don20
Champion Author Oklahoma City

Posts:13,305
Points:3,503,260
Joined:Mar 2005
Message Posted: Apr 9, 2012 9:50:05 AM

Electric vehicles will never be accepted until they are the only vehicle on the market.. They do not fit everyone needs. Electric where made at the turn of 1900 and you can look back and see what happened..
Profile Pic
goodbuy
Champion Author Michigan

Posts:11,021
Points:2,332,890
Joined:May 2005
Message Posted: Apr 9, 2012 9:49:38 AM

Car for the rich.
Profile Pic
RabunDog
Champion Author Georgia

Posts:3,305
Points:1,960,260
Joined:May 2009
Message Posted: Apr 9, 2012 9:48:12 AM

ok
Profile Pic
SUV2009
Champion Author Orlando

Posts:6,997
Points:2,038,670
Joined:Oct 2009
Message Posted: Apr 9, 2012 9:47:29 AM

Nice car would love one but cannot afford it yet!
Profile Pic
1stClicker
Champion Author Texas

Posts:8,948
Points:3,181,765
Joined:Oct 2005
Message Posted: Apr 9, 2012 9:47:28 AM

They are not dumb they see that EVs are not at present worth the price.
Profile Pic
MTPokts
Champion Author Indianapolis

Posts:2,733
Points:1,320,310
Joined:Jul 2008
Message Posted: Apr 9, 2012 9:46:52 AM

Abu Dhabi makes money on their involvement in elect cars, while our government hands out "loans" to failing greeny companies.
Profile Pic
spiderjay
Champion Author Little Rock

Posts:4,855
Points:1,396,680
Joined:Oct 2005
Message Posted: Apr 9, 2012 9:46:25 AM

where do we plug in at?
Profile Pic
HockeyLady
Champion Author New Jersey

Posts:5,568
Points:2,431,420
Joined:Jun 2005
Message Posted: Apr 9, 2012 9:45:49 AM

time will tell
Profile Pic
NotmeuQc
Champion Author Montreal

Posts:9,021
Points:2,000,000
Joined:Apr 2009
Message Posted: Apr 9, 2012 9:45:19 AM

With the price of Tesla being high, sales will be slow, even for a quality car. Most people just cant afford one. I do not blame Abu Dhabi at all, but I wish Tesla the best of luck.
Profile Pic
JR57CA
All-Star Author Los Angeles

Posts:917
Points:558,155
Joined:May 2011
Message Posted: Apr 9, 2012 9:44:41 AM

ok. Tesla may expect to turn profitable in 2013, but Abu Dhabi doesn't seem to believe it.
Profile Pic
Luckylindy
Champion Author Milwaukee

Posts:7,871
Points:2,006,425
Joined:May 2008
Message Posted: Apr 9, 2012 9:44:39 AM

Take the money and run.
Profile Pic
firemunkee
Veteran Author Maryland

Posts:408
Points:56,450
Joined:Jan 2012
Message Posted: Apr 9, 2012 9:44:32 AM

interesting
Profile Pic
joezIN
Champion Author Gary

Posts:4,320
Points:1,000,000
Joined:May 2011
Message Posted: Apr 9, 2012 9:44:24 AM

bye
Profile Pic
JimL1
Champion Author Phoenix

Posts:11,580
Points:2,027,870
Joined:Jul 2003
Message Posted: Apr 9, 2012 9:43:53 AM

Government involvement in Tesla served its purpose, so we get out of it.
Profile Pic
11SilveradoMN
Champion Author Minnesota

Posts:2,699
Points:873,970
Joined:Aug 2011
Message Posted: Apr 9, 2012 9:42:58 AM

I'm not an electric car fan either.
Profile Pic
abacus44
Champion Author Toms River

Posts:6,946
Points:1,765,330
Joined:Jan 2011
Message Posted: Apr 9, 2012 9:42:07 AM

They're the smart ones.
Profile Pic
BWALL2700
Champion Author Illinois

Posts:2,174
Points:195,735
Joined:Apr 2011
Message Posted: Apr 9, 2012 9:41:50 AM

ok
Profile Pic
min_fuel
Champion Author Philadelphia

Posts:1,958
Points:746,360
Joined:Jan 2008
Message Posted: Apr 9, 2012 9:41:44 AM

Sure, make the money and run, as the depression approaches, the the price os oli will drop. Nice little emergency fund.
Profile Pic
firasatali
Champion Author Toronto

Posts:6,781
Points:1,475,830
Joined:May 2011
Message Posted: Apr 9, 2012 9:41:33 AM

ok
Profile Pic
Palantas
All-Star Author Indianapolis

Posts:833
Points:562,855
Joined:Sep 2011
Message Posted: Apr 9, 2012 9:41:30 AM

Tesla's are neat. I doubt they'll ever take off, though.
Profile Pic
MrLuigi
Champion Author Massachusetts

Posts:8,436
Points:1,859,115
Joined:Jun 2005
Message Posted: Apr 9, 2012 9:41:02 AM

The Tesla automobile unfortunately turned out to be more hype than anything, overpriced hype at that
Profile Pic
lgwhitlock
Champion Author Chico

Posts:9,757
Points:2,670,875
Joined:Jun 2008
Message Posted: Apr 9, 2012 9:40:58 AM

I have always wondered how Tesla would ever make money selling such expensive cars...
Profile Pic
1fuelish1
Champion Author Charlotte

Posts:17,659
Points:2,783,875
Joined:Dec 2005
Message Posted: Apr 9, 2012 9:40:32 AM

They are taking the money and running.
Profile Pic
TKAP
Champion Author North Carolina

Posts:1,426
Points:444,280
Joined:Aug 2006
Message Posted: Apr 9, 2012 9:39:18 AM

wow
Profile Pic
traumer
Champion Author Twin Cities

Posts:9,003
Points:2,270,880
Joined:Aug 2006
Message Posted: Apr 9, 2012 9:38:34 AM

Even Abu Dhabi doesn't want anything to do with electric cars.
Profile Pic
gumbyrex
Champion Author Fresno

Posts:6,902
Points:1,718,205
Joined:Mar 2011
Message Posted: Apr 9, 2012 9:37:24 AM

Things must be bad when cash rich Abu Dhabi wants nothing to do with Tesla. Or could it be they they don't want to cut their own throats?
Profile Pic
Galmar352
Champion Author San Antonio

Posts:10,158
Points:1,882,625
Joined:Dec 2005
Message Posted: Apr 9, 2012 9:37:19 AM

@Alaydown - Dissagree. Electric cars are useful for certain operations and the technology will get better...
Profile Pic
WebGabe
Champion Author Pennsylvania

Posts:6,021
Points:1,504,645
Joined:Jun 2007
Message Posted: Apr 9, 2012 9:36:09 AM

Imagine that.
Profile Pic
radiorumor
Champion Author Texas

Posts:6,261
Points:1,768,260
Joined:Feb 2011
Message Posted: Apr 9, 2012 9:35:48 AM

Shocking
Profile Pic
arnerator
Champion Author Seattle

Posts:11,777
Points:2,596,650
Joined:Sep 2008
Message Posted: Apr 9, 2012 9:35:34 AM

Lots of luck on the profitability issue.... Tesla has been a loser from the start.
Profile Pic
101Speedster
Champion Author Ventura

Posts:31,817
Points:2,909,605
Joined:May 2005
Message Posted: Apr 9, 2012 9:35:20 AM

" 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."
Profile Pic
rjd1608
Champion Author Toledo

Posts:8,975
Points:2,960,380
Joined:Aug 2003
Message Posted: Apr 9, 2012 9:34:50 AM

ok
Profile Pic
knutzAL
Champion Author Alabama

Posts:2,248
Points:373,880
Joined:Feb 2012
Message Posted: Apr 9, 2012 9:33:25 AM

Whup!
Profile Pic
Alaydown
Champion Author Los Angeles

Posts:7,637
Points:1,303,035
Joined:May 2007
Message Posted: Apr 9, 2012 9:30:12 AM

Electric cars are worthless except for driving on golf courses and in shopping malls.
Profile Pic
BlueVanGroup
Champion Author Fort Collins

Posts:11,378
Points:2,408,120
Joined:May 2008
Message Posted: Apr 9, 2012 9:29:59 AM

Probably should have sold before the "brick" stories came out.
Profile Pic
HA4CNN
Champion Author Toronto

Posts:8,965
Points:2,371,485
Joined:Dec 2006
Message Posted: Apr 9, 2012 9:29:22 AM

Take the money and run.
Profile Pic
BM4225
Champion Author Atlanta

Posts:13,485
Points:3,006,390
Joined:Aug 2006
Message Posted: Apr 9, 2012 9:29:15 AM

This the company that has been selling the $107,000 brick is it not?
Profile Pic
rawdog1313
Champion Author Lexington

Posts:4,878
Points:2,077,445
Joined:May 2008
Message Posted: Apr 9, 2012 9:28:46 AM

Really??
Profile Pic
police22
All-Star Author Oklahoma City

Posts:610
Points:1,514,120
Joined:Jul 2004
Message Posted: Apr 9, 2012 9:28:35 AM

okay
Profile Pic
sivart
Champion Author Arkansas

Posts:23,035
Points:3,999,370
Joined:May 2004
Message Posted: Apr 9, 2012 9:28:10 AM

I'd sell, too!!!
Profile Pic
ciimike
Champion Author Nevada

Posts:4,773
Points:1,195,675
Joined:Aug 2005
Message Posted: Apr 9, 2012 9:27:53 AM

For being one of the original electric car makers, they have surely fallen behind the eight ball with regards to the larger automakers.
Profile Pic
Goody2317
All-Star Author Wilmington

Posts:795
Points:1,345,135
Joined:Jun 2008
Message Posted: Apr 9, 2012 9:27:16 AM

They know they will not make a profit from it.
Profile Pic
platinum16434
Veteran Author Houston

Posts:289
Points:122,995
Joined:Sep 2008
Message Posted: Apr 9, 2012 9:27:14 AM

POS. The fact that Abu Dhabi sold its shares tells me that they're seeing problems coming up. An it's. A lot of people that already bought the S are getting all kinds of problems with electrical and engine stuff.
Profile Pic
Insuremn
Champion Author Twin Cities

Posts:8,598
Points:2,051,770
Joined:May 2010
Message Posted: Apr 9, 2012 9:26:00 AM

Ok.
Post a reply Back to Topics