Analysts were surprised by the success of the IPO because the company isn't making any money, though it has been building and selling a $100,000 electric sports car that gets good reviews.
Tesla has plans to build a sedan, currently named S, and recently got a boost from a $50 million in a stock buy from Toyota as well as a commitment from the Japanese car giant to work with Tesla on developing electric vehicles.
Tesla is also getting a $465 million grant from the US Department of Energy. The planned sedan is still probably a couple of years away. BB
