Tesla shares jump 15% in single session after Musk wins China's approval
BREAKING: Tesla stock, $TSLA, surges 11% as China removes restrictions on its vehicles after passing data security requirements. The move has made it far more likely that Tesla’s Full Self Driving (FSD) will soon be available in China. $TSLA is now up nearly 40% since its low
EV maker, Tesla, saw a decline in its stock price in 2024 so far. This was attributed to competition from China's EV makers moving ahead in the market as well as a decline in sales.
In a turn of events, Elon Musk visited China and won approvals to kickstart Tesla's self-driving car technology in the country. Additionally, the company promised cheaper car models while investing billions in AI to expand its self-driving feature. In addition, Musk also partnered with China's Baidu, on a mapping deal.