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Tesla IPO Priced at $17/Share

Electric car company Tesla Motors said its initial public offering of 13.3 million common shares was priced at $17 a share, above the offering price of $14 to $16 a share.

PALO ALTO, Calif. (

TheStreet

) -- Electric car company

Tesla Motors

said its

initial public offering

TST Recommends

of 13.3 million common shares was priced at $17 a share, above the offering price of $14 to $16 a share.

Tesla bumped up the number of shares for sale on Monday by about 20% from the original offer of 11.1 million shares.

The shares will begin trading on Nasdaq Tuesday under symbol "TSLA."

Tesla makes the Roadster, a luxury car that sells for more than $100,000. The carmaker has yet to make a profit.

-- Reported by Joseph Woelfel in New York.

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