Musk: Raising cash as buffer may be desirable

Elon Musk said there is no immediate need to raise cash, but more funding could provide a "buffer."

"There is no explicit reason for us to raise money," Musk said in an CNBC Friday morning. "It may be prudent to raise some capital as a buffer, and to de-risk the business, but we have not decided when that might be."

Tesla (TSLA) shares are trading down roughly 21 percent in the year-to-date period.

Tesla and SolarCity (SCTY) shareholders are expected to vote on a proposed merger between the two companies Nov. 17.

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