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Red HerringElectric-auto maker Tesla is quietly revving up plans to file its widely expected initial public offering, according to reports.

San Carlos, California, Tesla is known for its Roadster electric two-seater sports car built on a Lotus platform that costs $109,000. Company founder Elon Musk indicated last year that an IPO was in the offing by 2008 or 2009, but economic conditions have likely delayed the company's S-1 filing.

Innovation on Wheels: Tesla IPO Coming