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Tesla stock surges 12% on Elon Musk's China Full Self-Driving 'home run' [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
The news looks like a "home run" for the electric-car maker, Wedbush's Dan Ives said. Tesla stock surged at Monday's opening bell as traders reacted to the electric-car maker moving a step closer to winning Beijing's approval for its Full Self-Driving technology in China. Shares were up 12% to just under $189 shortly before 10 a.m. ET, lifting Tesla's valuation by more than $60 billion, per Business Insider's calculations. Tesla struck a deal to partner with the Chinese tech giant Baidu for technology associated with autonomous driving and passed a key data-security and privacy requirement, Bloomberg reported. The announcement came after CEO Elon Musk made a surprise visit to China on Sunday to meet with top officials, including Premier Li Qiang. The Wall Street Journal reported that China's government had signaled to Musk that it would support Tesla's Full Self-Driving rollout. China is a key market for the US-based EV maker, though it faces intense competition from local
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