Tesla's chief executive Elon Musk has announced, in a series of Twitter posts, that he wants to take the company private, resulting in a jump in the share price.
If that were to occur, it would be the largest deal of its type — moving the electric car maker out of the glare of Wall Street as it goes through a period of rapid growth under tight financial constraints.
"Am considering taking Tesla private at $[US]420. Funding secured," Mr Musk said on Twitter.
"[Definitely] no forced sales. Hope all shareholders remain. Will be way smoother & less disruptive as a private company. Ends negative propaganda from shorts.
"Investor support is confirmed. Only reason why this is not certain is that it's contingent on a shareholder vote."
At that $US420 per share, a deal would be worth $US72 billion overall.
Mr Musk did not disclose the source of the funding.
Tesla's share price surged 11 per cent to $US379.57 by the closing bell.
When another person tweeted that going private "saves a lot of headaches", Mr Musk replied, "Yes".
Asked whether he would continue to be CEO under such a scenario, Mr Musk replied there would be "no change".
Mr Musk has been under intense pressure this year to prove he can deliver on his promise to turn his money-losing company into a profitable higher-volume manufacturer.
Going private is one way to avoid the intense scrutiny of public markets.
Mr Musk has had feuds with regulators, critics and reporters, and questions remain about Tesla's production and manufacturing difficulties, long-term demand for its cars and uncertainty over funding.
More to come.
