Musk says going private is 'best path forward' for Tesla

Elon Musk yesterday unveiled a plan to potentially take Tesla private.

In a letter to Tesla workers that was posted on the company's blog, Musk called his idea the "best path forward."

"As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders," he wrote.

Musk, the CEO and largest shareholder of Tesla, tweeted he has lined up funding to take the company private.

Musk would need shareholder approval for the move.

Read more from CNNMoney.