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Electric automaker Tesla Motors is looking to raise up to $214 million through a secondary public offering of its shares and a private placement to fund development of the Model X – the battery-powered CUV due in late 2013ish.

It's no secret that Tesla Motors is working on an electric SUV/CUV called the Model X. In fact, back in October, Tesla chief executive officer, Elon Musk, told Green Tech Media that the automaker aims to unveil a prototype of the SUV/CUV by the end of 2011, with production tentatively scheduled for 2014.

Click above for a high-res gallery of the Tesla Model S

Tesla Motors and it's man in charge, Elon Musk, have had to make some tough decisions these past few weeks. The announcements made by Musk indicate that cash is getting tight, leading some to speculate that the company won't be in business much longer. Not so, says Tesla. Musk has reportedly personally guaranteed that the fledgling automaker would deliver all Roadsters to customers that have placed deposits, saying, "I have the means and wherewithal to do so. So people should have absolutely zer