Tesla's Full Self-Driving system has received approval for rollout in China, a major market for the electric carmaker.
Tesla shares jumped in premarket trading in New York after Bloomberg reported that Beijing had given Tesla the 'greenlight' to roll out its driver-assistance system, known as 'Full Self-Driving,' or FSD, in the world's largest car market. Sources say Tesla will partner with Chinese tech giant Baidu for mapping and navigation software to support FSD. Tesla also has multiple data security and privacy requirements that satisfy the country's regulators.
Wedbush Securities senior analyst Dan Ives told Bloomberg TV that Musk's weekend visit to China was a major 'watershed moment.' 'This could open up FSD in China, which I view as unlocking what really could be the golden opportunity for them,' Ives said. FSD approval in China would be a massive win for Tesla, given the company's year-over-year decline in quarterly revenue since 2020.
Full Self-Driving System China Electric Cars Baidu Mapping Navigation
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