Tesla Pulls Off Successful IPO

By Chris Haak

Electric-vehicle manufacturer Tesla pulled off a successful initial public offering yesterday, selling at least 13.3 million shares at $17 per share, which is above the $14 to $16 range that the company’s underwriters had proposed.  The gross proceeds of the stock sale were $226.1 million, with about $202 million going to Tesla as proceeds to help it develop its Model S electric sedan and ramp up production of that car.

Tesla’s IPO marks the first IPO of a US automaker since Ford’s IPO way back in 1956.  The IPO values the company at about $1.33 billion, because only about 17 percent of the company was sold to the public via the IPO.  Several early investors, including founder and CEO Elon Musk, sold portions of their stakes in the company to raise funds.

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2011 Dodge Challenger Set to Receive Upgrades

By Chris Haak

Not content to let the Camaro and Mustang receive all of the glory (and retail sales), Dodge is slated to introduce some substantial upgrades to its retro-styled muscle car, the Challenger, according to a .  This will mark the car’s first mid-cycle enhancement.

Allpar says that the 2011 Challenger will receive “major interior upgrades” (hopefully improving the style as much as the materials; the current car’s sedate interior styling is disconnected from the reality of its aggressive and flashy exterior) as well as a new Garmin-sourced navigation system.

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Privacy Policy

Techshake Media, LLC – Privacy Policy

Techshake Media, LLC (hereafter referred to as Techshake) has created this privacy statement to demonstrate our firm commitment to the privacy of the users of our websites. Please read the following to learn more about our privacy policy, and how we treat personally identifiable information collected from our visitors and users.

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Dodge Plans “Man Van” to Battle Toyota Sienna SE

Dodge Plans “Man Van” to Battle Toyota Sienna SE

By Chris Haak

Perhaps we’re on the cusp of a minivan revival.  The vehicle most associated with soccer moms, and nerdy, utilitarian transportation will have nearly all new or refreshed offerings for the 2011 model year.  Toyota’s 2011 Sienna has been on the road for a few months, and are sprouting up here and there.  Honda just revealed its all-new 2011 Odyssey, and Chrysler is going to refresh its Dodge Grand Caravan and Chrysler Town & Country vans for 2011 with the new Pentastar V6 engine family and some other upgrades.  The Town & Country is slated to receive a redesigned front end as well.

Toyota has taken a marketing approach with the new Sienna that makes light of the un-hip image of minivans, attacking the perceptions head-on.  They’re a little corny, but also pretty darn funny.  For instance, the “Swagger Wagon” rap video is after the jump.

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Forget The Track, Head to the Go-Kart

Forget The Track, Head to the Go-Kart

By James Wong

Ever since I got my driving licence, I aimed to improve my driving abilities by getting into motorsports. But as I’ve realised from my dwindling savings account, this is by no means a cheap hobby, especially when it involves a road-going car of your own. I have been to the Sepang International Circuit (SIC) in Malaysia for a few times now, but I have to cut down because of the prohibitive costs involved. I signed up for various driving courses but I am limited by two things – my age and again, money. Most driving courses require a minimum age because of insurance issues, and since they’ll be providing the cars (assuming that they do in the first place), you’re paying for the wear and tear of their cars as well. Where does that lead me, an enthusiast who just wants to learn how to drive a car fast, properly?

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