Tesla Motors Inc.

, the electric-car maker led by Elon Musk, rose past a $100-a-share for the first time as it prepares to announce an expansion of its charger network for its vehicles this week.

Tesla gained 4.8 percent to $101.75 at 8:45 a.m. New York time, before to the start of regular trading. The shares have almost tripled this year through May 24, compared with a 16 percent increase for the Russell 1000 Index.

Chief Executive Officer Musk said May 20 the announcement of the expansion of its so-called supercharger network was being pushed back to this week after the Palo Alto, California-based company repaid a U.S loan. Tesla became the first recipient of a U.S. Energy Department loan to pay its debt.

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Tesla Shares Whiz Past $100 A Share For The First Time

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