The stock is up $21.03 (+12.50%) at $189.32 in pre-market action.
From Investor's Business Daily, April 29:
Tesla (TSLA) CEO Elon Musk reportedly has won tentative approval for introducing Full Self-Driving in China, clearing key hurdles after meeting with top government official in a surprise visit Sunday. That could provide a key boost for Tesla, which is struggling with weaker demand as well as growing FSD concerns at home. Tesla stock jumped early Monday.
Beijing has given its preliminary blessing for Tesla to launch FSD in China, The Wall Street Journal reported early Monday.
On Sunday, Musk met with China Premier Li Qiang. Li said Tesla's growth in China is "a successful example of Sino-U.S. economic and trade cooperation", the Chinese state broadcaster reported Sunday.
Tesla has cleared Beijing's data security tests. thee China Association of Automobile Manufacturers announced shortly after the Musk-Li meeting. As a result, Chinese local authorities lifted restrictions on Tesla vehicles from certain areas.
Tesla will team up with Baidu (BIDU), which licensing mapping data and its lane-level navigation service for FSD, which isn't capable of self-driving. Baidu stock jumped early Monday.
It's unclear if the Baidu deal means that Tesla won't be allowed to export China FSD data back to the U.S.
On Tesla's April 23 earnings call, Musk said the EV giant aims to release FSD "as a supervised autonomy system in any market that — where we can get regulatory approval for that, which we think includes China."
Tesla has not said when FSD might be launched. But its official China website has changed FSD from "to be launched later" to "coming soon."....
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