Tesla Inc's shares were set to open this year at their highest in about a month after reporting stronger-than-expected quarterly deliveries of its electric cars, allaying fears of supply chain woes that other automakers have struggled with.
Shares of the world's most valuable carmaker were up about 7% at $1,126.5 in premarket trading.
Tesla delivered 308,600 vehicles in the fourth quarter, higher than analysts' forecasts of 263,026 vehicles. Zachary Kirkhorn, Tesla's finance chief, said in October it was difficult to predict how quickly the company will be able to boost production at its new factories. "Tesla continues to shrug off the chip supply crunch and clearly has ramped Shanghai at breakneck speed," Cowen analyst Jeffrey Osborne said.
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