Tesla unveils plans to raise about $2 billion

Charles Sykes/Invision/AP, FileElon Musk.

Tesla is raising cash.

The electric-car maker on Thursday revealed plans to sell a combination of stock and debt to raise about $US2 billion of cash.

Tesla plans to sell 2.72 million shares and $US1.35 billion worth of notes, the automaker said in a filing out Thursday morning. Shares ended Wednesday’s session at a more than two-year low of $US234.01 apiece, meaning the sale of 2.72 million shares would generate about $US653,000. Combined with the debt offering, the company would raise about $US2 billion.

Thursday’s announcement comes about two weeks after Tesla announced a wider-than-expected first quarter loss.

This story is developing. Check back for updates.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.