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Tesla's market value set to gain $50 bln on record first-quarter deliveries

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The electric-car maker said on Friday it was encouraged by the strong reception of its Model Y crossover in China and it was quickly progressing to full production capacity.

The carmaker's shares, up nearly 8% in pre-market trading, were on track to hit their highest in over a month.

Musk's personal wealth has been boosted by a more than eight-fold surge in the stock's value last year, even though its production is just a fraction of rivals such as Toyota Motor, Volkswagen and General Motors. Tesla delivered 184,800 vehicles globally during the first quarter of 2021, above estimates of 177,822 vehicles, according to Refinitiv data.

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