Tesla Announces Second $ 5 Billion Capital Increase Since September

Tesla announced a $ 5 billion capital increase on Tuesday, the second in three months, while the electric car maker’s shares are skyrocketing this year.

The company’s stock hit its high on Monday, pushing Tesla’s market value to more than $ 600 billion and further cementing its position as the world’s most valuable auto company, despite having less production than its rivals. like Toyota Motor, Volkswagen and General Motors.

Demand for its stock got another boost when the S&P Dow Jones announced in late November that Tesla would be added to the S&P 500, making it one of the most valuable companies to join the benchmark.

Ten major banks, including Goldman Sachs, Citigroup Global Markets and Morgan Stanley, will coordinate the capital increases, the automaker said in a statement, but without specifying a completion date.

Tesla said in September that it would raise $ 5 billion to ease future debt pressures, while the company plans to expand production of existing vehicles and build new factories near Berlin, Germany and Austin, Texas.

Before the start of trading, the company’s shares fell 2% to $ 627.

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