DETROIT: Tesla said Tuesday (Wednesday in Manila) it is looking to raise up to $5 billion in capital through a stock offering. The announcement came on the same day CEO Elon Musk said he has moved his home to Texas from California.

The stock sale is the second for the electric-vehicle and solar-panel company in three months. In September, Tesla said it planned to sell up to $5 billion worth of common shares just one day after a 5-for-1 stock split took effect.