Shares of Tesla Motors Inc. declined by 4.9 percent on Thursday after the company downgraded its projections for profitability and indicated that it may need to seek additional capital.

Tesla shares surged Wednesday and early Thursday on news that the manufacturer was accelerating its target date by two years for reaching 500,000 vehicles in annual output. In time, the market responded to the plans with concerns over the ambitious production volumes and shortfall in cash reserves.

In a letter issued to its shareholders on Wednesday, Tesla said that meeting the new production target would require about $750 million more in capital expenditures than the $1.5 billion projected in its original plans.

In a conference call with analysts on Wednesday, Tesla CEO Elon Musk indicated that the company did not want to become dependent on funds accrued through customer reservations. “Maybe there is a buffer or something, but it’s not as a primary source of capital. I think it’s going to make sense for us to raise some amount of money, some combination of equity and debt and make sure the company has a good buffer of cash on hand. I think it’s important for de-risking the company.”