- Reaction score
- 1,703
Tesla gaining approval to use FSD in China makes its vehicles more attractive and unlocks another revenue stream for the company.
Tesla (TSLA) stock soared on Monday following reports that CEO Elon Musk won Chinese approval to deploy the automaker’s Full Self-Driving (FSD) autonomous software on the mainland.
As was first reported by the Wall Street Journal, people familiar with the matter said that officials told Tesla that they had tentatively approved FSD in the country during Musk’s 24-hour visit to Beijing over the weekend.
Separately, Bloomberg earlier reported that Tesla will use Chinese tech company Baidu’s street-level mapping data to power FSD. Tesla had been previously using Baidu’s mapping data for satellite navigation in its cars. Working with a Chinese company helped with regulatory approval as data privacy and security risks are minimized, the reports said.
Tesla closed up 15.3%, hitting its highest levels since March 1. Tesla stock is now up over 30% in the past four trading sessions.
finance.yahoo.com
Tesla (TSLA) stock soared on Monday following reports that CEO Elon Musk won Chinese approval to deploy the automaker’s Full Self-Driving (FSD) autonomous software on the mainland.
As was first reported by the Wall Street Journal, people familiar with the matter said that officials told Tesla that they had tentatively approved FSD in the country during Musk’s 24-hour visit to Beijing over the weekend.
Separately, Bloomberg earlier reported that Tesla will use Chinese tech company Baidu’s street-level mapping data to power FSD. Tesla had been previously using Baidu’s mapping data for satellite navigation in its cars. Working with a Chinese company helped with regulatory approval as data privacy and security risks are minimized, the reports said.
Tesla closed up 15.3%, hitting its highest levels since March 1. Tesla stock is now up over 30% in the past four trading sessions.
Tesla stock surges on 'watershed' full self-driving approval in China
Tesla stock soared at the open on Monday following reports CEO Elon Musk won Chinese approval to deploy the automaker’s Full Self-Driving (FSD) autonomous software on the mainland.
