TESLA Inc. reported Sunday record quarterly deliveries that far exceeded Wall Street estimates, riding out global chip shortages as it ramped up China production.

It was the sixth consecutive quarter that the world’s most valuable automaker posted record deliveries.

Tesla, led by billionaire CEO Elon Musk, delivered 308,600 vehicles in the fourth quarter, far higher than analysts’ forecasts of 263,026 vehicles.

Tesla’s October-December deliveries were up about 70 percent from a year earlier and nearly 30 percent higher from record deliveries the preceding quarter.

“Great work by Tesla team worldwide!” Musk wrote on Twitter.

His electric-car company ramped up production in China even though competition rose and regulatory pressure mounted following consumer complaints over product safety.

Tesla ships China-made models to Europe and some Asian countries.

On an annual basis, the U.S. automaker boosted its deliveries by 87 percent from a year earlier to 936,172 vehicles in 2021.

Musk said in October last year that Tesla will be able to maintain an annual growth rate of more than 50 percent for “quite a while.” (SD-Agencies)