Tesla stake on the table in CEO's divorce dispute

Sat May 15, 2010 9:05am EDT
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By Poornima Gupta

SAN FRANCISCO (Reuters) - Justine Musk says she wants a pricey Tesla Roadster, 10 percent of her husband's stake in the carmaker and the odd $6 million.

"I really, really want one," she said on a blog she posted on May 8 about the $109,000 Roadster, which is capable of accelerating faster than a Ferrari.

She is making the demands in a contentious divorce case that could complicate plans by Tesla Motors' Chief Executive Elon Musk to take the company public and retain $465 million in U.S. government funding to launch a mass-market electric car named Model S.

Welcome to divorce in the revolutionary world of electric vehicles.

Musk is the co-founder and largest shareholder in the electric car start-up with over 81 million shares, but it is unclear how much of the company he owns because Tesla does not disclose current shares on issue.

According to Tesla's regulatory filing, the government loan could be in default if Elon Musk does not hold enough of the stock.

Tesla spokesman Ricardo Reyes said the company has no plans to alter its initial public offering registration statement with the U.S. Securities and Exchange Commission.

Lawyers for Elon Musk and Justine Musk did not return calls for comment.   Continued...