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Tesla’s Future Brightens in China with New FSD Testing Approval

Daniel Kim Views  

Tesla’s stocks saw a rise of over 5% following news that the company received approval to test its Full Self-Driving (FSD) system in Shanghai, China.

Tesla’s shares closed at $187.44, a 5.3% increase from the previous trading day on the 17th (local time) at the New York Stock Exchange. The surge is attributed to the rising anticipation for the adoption of autonomous driving in China, following the news of Shanghai’s FSD test approval reported by Bloomberg. Bloomberg also suggested that Hangzhou might potentially approve FSD testing as well.

Tesla has been providing its Autopilot system in China, but the latest FSD system implemented in the U.S. has not been installed due to regulatory restrictions. China requires companies to obtain map-making qualifications before introducing autonomous driving systems. If the company is foreign, it is also required to form a partnership with a Chinese company.

The market is showing expectations that Tesla could increase its sales in China with the launch of FSD. In April, Tesla CEO Elon Musk visited Beijing, China, and met with Chinese Premier Li Qiang, fueling hopes for the introduction of FSD in China.

Daniel Kim
content@viewusglobal.com

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