{"id":3771,"date":"2024-05-01T00:07:35","date_gmt":"2024-05-01T00:07:35","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/01\/tesla-shares-jump-on-full-self-driving-milestone-in-china\/"},"modified":"2024-05-01T00:07:35","modified_gmt":"2024-05-01T00:07:35","slug":"tesla-shares-jump-on-full-self-driving-milestone-in-china","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/05\/01\/tesla-shares-jump-on-full-self-driving-milestone-in-china\/","title":{"rendered":"Tesla Shares Jump on Full Self-Driving Milestone in China"},"content":{"rendered":"<p><strong>Tesla (NASDAQ:TSLA) shares rose on Monday (April 29) <strong>morning<\/strong> following the announcement that Chinese authorities have approved the company\u2019s advanced driver-assistance technology. <\/strong><\/p>\n<p>The company was up 11.88 percent from Friday\u2019s (April 26) close at US$188.29 as of the opening bell.<\/p>\n<p>CEO Elon Musk made a surprise trip to China over the weekend as the Beijing auto show ended. Soon after his landing, news broke that the company\u2019s advanced driver-assistance technology has successfully met China\u2019s strict data security requirements, leading to the removal of previously placed Tesla car restrictions that prohibited the use of cameras and sensors and restricted over-the-air Tesla updates. <\/p>\n<p>This development has fueled expectations that Full Self-Driving (FSD) could soon be available in China.<\/p>\n<p>Due to concerns that built-in cameras could collect sensitive information, Chinese officials had banned Tesla vehicles on certain government properties. However, Musk\u2019s meetings, which included a sit-down with Chinese Premier Li Qiang on Sunday (April 28), apparently appeased officials, who also approved new energy vehicle models from Chinese-owned BYD (HKEX:1211), Lotus (NASDAQ:LOT), Nezha, Li Auto (NASDAQ:LI) and Nio (NYSE:NIO).<\/p>\n<p>Tesla has reportedly also signed a deal with Baidu (NASDAQ:BIDU), China\u2019s most widely used search engine, that would grant Tesla access to Baidu\u2019s mapping and navigation technology for FSD, further solidifying its position in the market. <\/p>\n<p>Tesla\u2019s FSD system is classified as a Level 2 driver-assistance system, which means that although it can handle some aspects of driving, the driver must remain attentive and prepared to take control at any moment. <\/p>\n<p>FSD is an upgrade to Tesla\u2019s Autopilot driver-assistance system, which primarily focuses on maintaining the vehicle\u2019s speed and lane positioning. FSD expands upon these capabilities with more complex features, such as automatic lane changing, intersection navigation and object recognition. The technology has been offered in China since September 2020, but with limits on features such as automated lane changing and adaptive cruise control. <\/p>\n<p>In the US, FSD is currently undergoing beta testing, with users providing feedback to refine the system. Tesla\u2019s Autopilot features have been subject to scrutiny, and just last week safety regulators opened an investigation into whether new safeguards installed during Tesla\u2019s December recall of more than 2 million cars are enough to address safety concerns following a series of crashes. It has since been reported that Autopilot was linked to at least 200 crashes and 29 fatalities. <\/p>\n<p>Tesla\u2019s recent breakthrough in China could provide a much-needed boost for the carmaker, as it has been facing stiff competition from local EV manufacturers. Its sales in China have been declining as new competitors enter the market, prompting the carmaker to pursue strategies such as price cuts in an attempt to regain market share. The introduction of FSD could be a significant differentiation factor for Tesla, setting it apart from Chinese EV manufacturers.<\/p>\n<p>The approval of Tesla\u2019s technology in China comes after the company\u2019s Q1 earnings call last week, which revealed a 9 percent drop in revenue and 22 percent fewer car sales than the previous year, Tesla\u2019s biggest annual drop since 2012.<\/p>\n<p>Tesla shares closed Monday at US$194.05.<\/p>\n<p><strong>Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tesla (NASDAQ:TSLA) shares rose on Monday (April 29) morning following the announcement that Chinese authorities have approved the company\u2019s advanced driver-assistance technology. The company was up 11.88 percent from Friday\u2019s (April 26) close at US$188.29 as of the opening bell. CEO Elon Musk made a surprise trip to China over the weekend as the Beijing [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/3771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=3771"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/3771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/3772"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=3771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=3771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=3771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}