Elon Musk’s Tesla Stock Soars 15% in China After Full Self Driving Approval
Elon Musk’s Tesla saw a significant increase in its stock price on Monday, rising by 15% following the company’s achievement of a key milestone in China. Tesla announced that it would be rolling out its advanced driver-assistance technology, Full Self Driving (FSD), in the country.
Although Tesla had previously offered a restricted version of its FSD feature in China, the stock surged after the company informed Chinese authorities that it would remove these restrictions upon meeting the country’s data security requirements. This move was reported by CNBC News.
After passing China’s data security requirements, Tesla will now be able to legally operate its FSD feature on Chinese roads, allowing Musk’s vehicles to collect data on traffic, road signs, and routes in the country. Additionally, Tesla has struck a deal with Chinese internet company Baidu, granting them access to the mapping and navigation technology of the Chinese giant.
Elon Musk’s recent visit to China, during which he met with Chinese Premier Li Qiang, further solidified Tesla’s position in the country. Musk’s goal was to secure official approval for Tesla’s Internet-enabled autonomous driving functions, making Tesla one of the first companies to do so in China.
Breitbart News will continue to cover developments related to Elon Musk and Tesla’s ventures in China.
