People visit a Tesla booth during the media day for the Shanghai auto show in Shanghai, China April 16, 2019. REUTERS/Aly Song

(Reuters) – Tesla Inc said on Thursday it had filed with regulators to launch around $2 billion in fundraising through issues of new shares and debt, with Chief Executive Officer Elon Musk pitching in $10 million of his own money to buy shares.

The company’s shares were up 5 percent at $245 in early trading after it unveiled the plans, which follow Musk’s hint last week that a capital raise was imminent after the electric carmaker lost $700 million in the first quarter..

Analysts have been predicting for months that Tesla would need to raise funds for its expansion plans, which include the construction