The Tesla Motors Inc. (TSLA) shares rose 2.8% to $216.35 in early afternoon trading.
The shares had fallen almost 70% in 2017 as concerns over the electric-car maker’s future hit shares.
Tesla, the country’s largest automaker, is struggling to meet production targets and faces competition from Ford Motor Co. F,F,F is struggling with a weak car market.
The company also is trying to gain momentum in emerging markets, which have been a big part of its success.
Tesla CEO Elon Musk said during a call with analysts that the company is on track for $1.4 billion in revenue in 2020, up from $1 billion in 2019.
Tesla has been expanding its manufacturing in California and is also looking to expand into Mexico, which has struggled with high unemployment.
Tesla and afterpay Electronics Inc. have said they will make their products available in other parts of the world.
Tesla also has been working with afterpay to provide services to customers in areas where Tesla’s manufacturing has been limited.