Tesla surges more than 9% before market opening 04/29/2024

Today, April 29, Tesla shares rose more than 9.3% to US$183.32 before the market opened. On April 28, the Premier of the State Council met with Musk, CEO of the US electric vehicle manufacturer Tesla, and said that Tesla's development in China can be regarded as a successful example of Sino-US economic and trade cooperation. Musk expressed his willingness to deepen cooperation with China and achieve more win-win results.

The China Association of Automobile Manufacturers and the National Computer Network Emergency Response Technology Coordination Center announced yesterday afternoon that the cars produced by Tesla’s Shanghai Gigafactory passed all four national automotive data security requirements, including anonymizing facial information outside the car and not collecting cockpit information by default. It is the only foreign-invested enterprise that complies with the regulations regarding in-car processing of data and cockpit data, as well as significant notices on the processing of personal information.

Analysis points out that Tesla’s adoption of relevant standards and requirements will help to completely lift the restrictions on the movement and parking of Tesla smart cars by government agencies at airports and highways, and various places have also gradually lifted restrictions. Regarding Musk's visit to Beijing, some media said that Musk was seeking to meet with Chinese officials in Beijing to discuss the launch of fully autonomous driving (FSD) software in China and seek approval.

In addition, Bloomberg recently stated that Tesla will clear key obstacles to launching advanced assisted driving functions in China through cooperation with Baidu (100.52, 0.62, 0.62%) on map and navigation functions.