Tesla stock surges on 'watershed' 'Full Self-Driving' approval in China

Tesla stock soared on Monday following reports that CEO Elon Musk won Chinese approval to deploy the automaker’s"Full Self-Driving" autonomous software on the mainland.

Tesla closed up 15.3%, hitting its highest levels since March 1. Tesla stock is now up nearly 40% in the past four trading sessions. “What Tesla has to do is stay on the forefront of innovation. They have to be the most technologically advanced solution,” China expert Leland Miller of China Beige Book said to Yahoo Finance. “We have a domestic market that is saturated, and a price war going on … needs to stay on the top of the technological ladder.”

“Musk winning FSD approval in the key China market is a watershed moment for the Tesla story in our view,” Wedbush analyst Dan Ives said in a note to investors, further claiming it was a “home run” for Musk. “While the long term valuation story at Tesla hinges on FSD and autonomous, a key missing piece in that puzzle is Tesla making FSD available in China which is now a done deal.”

Source: Tech Daily Report (techdailyreport.net)

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla Full Self Driving (Supervised) Now $99/Month — Reflections on 4.5 Years with Tesla FSDClean Tech News & Views: EVs, Solar Energy, Batteries
Source: cleantechnica - 🏆 565. / 51 Read more »

Tesla Stock [TSLA] Is Basically Worth $0 If True Full Self Driving Isn’t AchievedClean Tech News & Views: EVs, Solar Energy, Batteries
Source: cleantechnica - 🏆 565. / 51 Read more »

Tesla’s Full Self-Driving System Is Coming To China, But Europe Is Still Off-LimitsReport claims Tesla has partnered with Chinese internet firm Baidu to gain access to mapping data and offer driver assistance tech in the country
Source: Carscoop - 🏆 306. / 63 Read more »

Elon Musk Goes To China, Brings Home A Win For Tesla's Full Self-DrivingMusk's meeting with officials in China goes a long way toward his autonomy dreams. Meanwhile, Ford BlueCruise faces an investigation back home.
Source: InsideEVs - 🏆 579. / 51 Read more »

Tesla’s Autopilot and Full Self-Driving linked to hundreds of crashes, dozens of deathsNHTSA published its findings into crashes linked to Tesla’s Autopilot and FSD. The agency found that driver inattention and inadequate technology contributed to most of the incidents.
Source: verge - 🏆 94. / 67 Read more »

Tesla “Full Self Driving” Could Come To Other Countries Before LongClean Tech News & Views: EVs, Solar Energy, Batteries
Source: cleantechnica - 🏆 565. / 51 Read more »