Update: The Tesla IPO proved to be a hot one, with the stock (NASDAQ:TSLA) rallying up to close 40.53-percent above its debuting price of $18.61 to $23.89 per share, topping out with a ceiling of $24.76 in intraday trading.

The California-based electric carmaker, Tesla Motors, has raised $226.1-million in capital, according to a SEC filing, following an initial public offering.

The company confirmed it took 13.3-million shares at $17 per share to raise the total amount of capital that will be used by the company to finance operations, production, and future acquisitions.

Tesla Motors did not disclose information relating to which firms the company could acquire in the future.

The initial stock price could be construed as high given the company has never produced any free cash flows in its history since the company was founded in 2003.

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Japanese-based Toyota, who is now the top carmaker in the world after edging out General Motors earlier in the year, has announced a new massive $50-million common stock investment in Telsa Motors.

The investment will see both firms cooperating on jointly developing cost effective fuel-efficient battery powered electric vehicles. The firms will jointly work together on developing various systems including parts and new systems that will see even more efficient vehicles in the future.

Telsa co-founder and chief executive Elon Musk said today in a statement, “It is an honor and a powerful endorsement of our technology that Toyota would choose to invest in and partner with Tesla,”

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