Tesla Motors plans an IPO of 11.1M shares in a $14-16 range in order to pay for factories and...

|By:, SA News Editor

Tesla Motors plans an IPO of 11.1M shares in a $14-16 range in order to pay for factories and possible acquisitions - maybe not a moment too soon for CEO Elon Musk, who's poured all his personal funds into the electric carmaker and will sell 1.1M of the shares. Toyota (TM) will also buy $50M in stock in a private placement.