Tesla bets on electric car’s future

June 28, 2010 at 12:00a.m.

NEW YORK

Tesla Motors Inc. begins selling stock to the public Tuesday. The sale’s success depends on how much investors are willing to bet on a car company that has never made a profit, sells a single vehicle and expects to lose money until at least 2012.

As for the car, it’s electric — a kind of vehicle Americans have shown almost no appetite for — and it’s very pricey.

The only car that Tesla offers isn’t exactly a hot seller. Priced at more than $100,000, the two-door Roadster showed the world what electric cars can do, such as accelerate to 60 mph in under 4 seconds. But Tesla has sold just 1,000 since 2008.

Boeing machinists approve contract

ST. LOUIS

Boeing workers in St. Louis have accepted a contract with the plane manufacturer, avoiding a strike that would have gone into effect today if the deal had been rejected.

The International Association of Machinists and Aerospace Workers said the contract passed Sunday by a vote of 1,237 to 838. The union had said its workers in St. Louis were prepared to strike starting at midnight if the vote had failed.

Associated Press