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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
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30mpg80
Champion Author Lexington

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Message Posted: Apr 9, 2012 9:55:16 AM

Electric vehicles only need to be 'accepted' by the buyers, and it doesn't matter what anyone else thinks about it!
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tobasco
Champion Author Los Angeles

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Message Posted: Apr 9, 2012 9:54:29 AM

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

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Message Posted: Apr 9, 2012 9:54:23 AM

Has anyone ever seen a Telsa?
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Prodaddy
Champion Author Houston

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Message Posted: Apr 9, 2012 9:53:32 AM

I can't afford one
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Don20
Champion Author Oklahoma City

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

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

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

Wished I could afford one.
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Tegger
Champion Author Ontario

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Message Posted: Apr 9, 2012 9:50:56 AM

OK
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Norm10
Champion Author British Columbia

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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.
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Don20
Champion Author Oklahoma City

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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..
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goodbuy
Champion Author Michigan

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Message Posted: Apr 9, 2012 9:49:38 AM

Car for the rich.
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RabunDog
Champion Author Georgia

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

ok
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SUV2009
Champion Author Orlando

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Message Posted: Apr 9, 2012 9:47:29 AM

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

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Message Posted: Apr 9, 2012 9:47:28 AM

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

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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.
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spiderjay
Champion Author Little Rock

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Message Posted: Apr 9, 2012 9:46:25 AM

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

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Message Posted: Apr 9, 2012 9:45:49 AM

time will tell
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NotmeuQc
Champion Author Montreal

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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.
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JR57CA
All-Star Author Los Angeles

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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.
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Luckylindy
Champion Author Milwaukee

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Message Posted: Apr 9, 2012 9:44:39 AM

Take the money and run.
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firemunkee
Veteran Author Maryland

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Message Posted: Apr 9, 2012 9:44:32 AM

interesting
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joezIN
Champion Author Gary

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Message Posted: Apr 9, 2012 9:44:24 AM

bye
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JimL1
Champion Author Phoenix

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Message Posted: Apr 9, 2012 9:43:53 AM

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

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

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

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Message Posted: Apr 9, 2012 9:42:07 AM

They're the smart ones.
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BWALL2700
Champion Author Illinois

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Message Posted: Apr 9, 2012 9:41:50 AM

ok
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min_fuel
Champion Author Philadelphia

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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.
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firasatali
Champion Author Toronto

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Message Posted: Apr 9, 2012 9:41:33 AM

ok
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Palantas
All-Star Author Indianapolis

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Message Posted: Apr 9, 2012 9:41:30 AM

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

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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
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lgwhitlock
Champion Author Chico

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Message Posted: Apr 9, 2012 9:40:58 AM

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

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Message Posted: Apr 9, 2012 9:40:32 AM

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

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Message Posted: Apr 9, 2012 9:39:18 AM

wow
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traumer
Champion Author Twin Cities

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Message Posted: Apr 9, 2012 9:38:34 AM

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

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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?
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Galmar352
Champion Author San Antonio

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Message Posted: Apr 9, 2012 9:37:19 AM

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

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Message Posted: Apr 9, 2012 9:36:09 AM

Imagine that.
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radiorumor
Champion Author Texas

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Message Posted: Apr 9, 2012 9:35:48 AM

Shocking
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arnerator
Champion Author Seattle

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Message Posted: Apr 9, 2012 9:35:34 AM

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

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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."
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rjd1608
Champion Author Toledo

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Message Posted: Apr 9, 2012 9:34:50 AM

ok
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knutzAL
Champion Author Alabama

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Message Posted: Apr 9, 2012 9:33:25 AM

Whup!
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Alaydown
Champion Author Los Angeles

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Message Posted: Apr 9, 2012 9:30:12 AM

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

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Message Posted: Apr 9, 2012 9:29:59 AM

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

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Message Posted: Apr 9, 2012 9:29:22 AM

Take the money and run.
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BM4225
Champion Author Atlanta

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Message Posted: Apr 9, 2012 9:29:15 AM

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

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Message Posted: Apr 9, 2012 9:28:46 AM

Really??
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police22
All-Star Author Oklahoma City

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Message Posted: Apr 9, 2012 9:28:35 AM

okay
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sivart
Champion Author Arkansas

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Message Posted: Apr 9, 2012 9:28:10 AM

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

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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.
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Goody2317
All-Star Author Wilmington

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Message Posted: Apr 9, 2012 9:27:16 AM

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

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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.
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