Tesla is seeking to raise up to $2.3bn (£1.8bn) after chief executive Elon Musk hinted it may have to go to the capital markets to aid its future plans.
The electric carmaker, which has lost more than $6bn in its lifetime, it had lost $700m in the first quarter of the year as a result of production and delivery difficulties, with its cash balance shrinking by $1.5bn to $2.2bn.
It predicted the current three month period would also be loss-making.
Mr Musk confirmed on Thursday the company was taking action to bolster its reserves and expansion – with goals including the construction of a factory in Shanghai, the upcoming and an acceleration in Model 3 production.
He said he would buy $10m worth of stock in a sale of new shares that was expected to raise at least $650m.
A bond issue of $1.35bn would take place alongside that, Tesla said, with underwriters having the option to buy more – depending on demand.
Shares – which have lost more than a quarter of their market value this year – were more than 4% higher in early deals following the announcement.