Tesla (TSLA) said overnight that it would hike prices 3% for most of its models. It also decided to "keep significantly more stores open than previously announced."

The decision comes less than two weeks ago that it would begin shutting most of its stores in a cost-cutting move designed to help reduce the price of its bestselling vehicle, the Model 3, to as low as $35,000.

Shares are up more than 1% in premarket trading.