<p>Tesla Inc unveiled a $5 billion capital raise on Tuesday, its second such move in three months as the electric-car maker cashes in on a stellar rise in its shares this year.</p>.<p>The company's shares touched a record high on Monday, pushing Tesla's market value above $600 billion and further cementing its position as the most valuable auto company in the world despite production that is a fraction of rivals such as Toyota Motor, Volkswagen and General Motors.</p>.<p>Ten major banks, including Goldman Sachs, Citigroup Global Markets and Morgan Stanley, will conduct the sale, the carmaker said in a filing, giving no timeline for its completion.</p>.<p>Demand for Tesla's shares has been further fueled by the decision last month to add the company to the S&P 500 index, making it one of the most valuable firms ever to join the main U.S. stock market benchmark.</p>.<p>Some investors and Wall Street analysts believe Tesla's stock is in a bubble, and a few have warned against adding it to the S&P 500 at current levels. Analysts' median price target on the stock stands at $400, $230 short of the current price.</p>.<p>The 670% rally in Tesla's shares this year has also boosted Chief Executive Officer Elon Musk's net worth from $27 billion to $155 billion, making him the world's second-richest person, according to the Bloomberg Billionaires Index.</p>.<p>In September, Tesla said it would raise $5 billion to ease its future debt pressures as the company seeks to massively expand production of its existing vehicles and build new factories near Berlin, Germany and Austin, Texas.</p>.<p>The company also has plans to launch new lines of vehicles, including a semi-truck called the Tesla Semi and its futuristic Cybertruck.</p>.<p>The company's shares fell 1.3% to $633.73 in premarket trading.</p>
<p>Tesla Inc unveiled a $5 billion capital raise on Tuesday, its second such move in three months as the electric-car maker cashes in on a stellar rise in its shares this year.</p>.<p>The company's shares touched a record high on Monday, pushing Tesla's market value above $600 billion and further cementing its position as the most valuable auto company in the world despite production that is a fraction of rivals such as Toyota Motor, Volkswagen and General Motors.</p>.<p>Ten major banks, including Goldman Sachs, Citigroup Global Markets and Morgan Stanley, will conduct the sale, the carmaker said in a filing, giving no timeline for its completion.</p>.<p>Demand for Tesla's shares has been further fueled by the decision last month to add the company to the S&P 500 index, making it one of the most valuable firms ever to join the main U.S. stock market benchmark.</p>.<p>Some investors and Wall Street analysts believe Tesla's stock is in a bubble, and a few have warned against adding it to the S&P 500 at current levels. Analysts' median price target on the stock stands at $400, $230 short of the current price.</p>.<p>The 670% rally in Tesla's shares this year has also boosted Chief Executive Officer Elon Musk's net worth from $27 billion to $155 billion, making him the world's second-richest person, according to the Bloomberg Billionaires Index.</p>.<p>In September, Tesla said it would raise $5 billion to ease its future debt pressures as the company seeks to massively expand production of its existing vehicles and build new factories near Berlin, Germany and Austin, Texas.</p>.<p>The company also has plans to launch new lines of vehicles, including a semi-truck called the Tesla Semi and its futuristic Cybertruck.</p>.<p>The company's shares fell 1.3% to $633.73 in premarket trading.</p>