Tesla Gains Tentative Approval For Fsd

last updated on

Tesla Gains Tentative Approval For Fsd

Tesla (Tsla) Gains 9% On Tentative Approval For Fsd In China

In yet another positive development for Tesla (TSLA), the company has reportedly won tentative approval from China to launch the full driving solution. In simple words, Tesla has now been approved to launch its self-driving solution in the Chinese market.

This outcome has been the result of a surprise visit by Elon Musk, the CEO of Tesla, Space X, & various other business ventures.

Tesla Collaborates With Baidu

As per the results, Chinese authorities have given tentative approval to Tesla. This will allow Tesla to introduce the FSD in China by using Baidu's mapping and navigation technology.

After the announcement, the TSLA shares gained a 6% upside as the traders rejoice in the positive development. Similarly, the shares of Baidu (BIDU) also gained a 5% upside as their services will also be used in the Tesla FSD.

The collaboration with Baidu has allowed Tesla to gain access to the technology framework needed for the FSD solution. At the same time, it has also allowed the US company to address Chinese regulatory concerns.

Baidu is famous for its search engine operations, but the company has also invested heavily in AI and autonomous driving technologies.

Now that Tesla has the green light to go ahead, many believe that Tesla will likely increase its presence in the country. The plan also involves Tesla building a manufacturing base in China.

During the CEO's visit to China, a meeting with the Contemporary Amperex Technology also took place. It is worth mentioning that this company is among the few suppliers of batteries used in Tesla.

According to an analyst, the FSD approval in the Chinese market is one of the best moments in the entire Tesla history. There's a good chance that this move will also allow Tesla to capture more consumers in China.

It looks like the year 2024 is brining a lot of good news for the Tesla which means more upside ahead for the company's stock as well.

Trending Stories