BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Tesla TSLA Pumped 18% Today and Here is Why

by Sham
April 29, 2024
in Business, Finance
A A
Tesla TSLA Pumped 18% Today and Here is Why
4
SHARES
Share on TwitterShare on Reddit
  • Tesla’s stock surged over 16% after the company cleared a major hurdle to roll out its Full Self-Driving (FSD) advanced driver-assistance technology in China
  • Tesla reportedly struck a deal with Chinese tech giant Baidu to access its mapping and navigation technology, which is required for intelligent driving systems to operate on public roads in China
  • The breakthrough for Tesla to bring its FSD technology to China marks a significant win for the company amid intense competition in the Chinese electric vehicle market from local rivals like BYD, Nio, and XPeng

Tesla’s stock jumped over 16% as the company cleared a key hurdle to roll out its Full Self-Driving technology in China. The Chinese authorities removed restrictions on Tesla‘s cars after they passed data security requirements, paving the way for the advanced driver assistance system to be enabled.

JUST IN: Tesla $TSLA pumped 18% today following approval to launch Self-Driving tech in China pic.twitter.com/BNO0jgwaVu

— BlockNews.com (@blocknewsdotcom) April 29, 2024

What is Full Self-Driving?

Full Self-Driving (FSD) is an upgrade to Tesla’s Autopilot driver assistant system. Tesla has offered FSD in China for years but with limited functionality that restricts it to automated lane changes. FSD is not yet fully autonomous driving, but Tesla markets it as having full self-driving capabilities. This has led to lawsuits in the US for false advertising.

Overcoming Data Security Concerns in China

Data security concerns have prevented Tesla from fully rolling out FSD in China until now. Tesla also reportedly reached a deal with Baidu for mapping data, which is required for autonomous driving systems in China. This license will allow Tesla to legally operate FSD on roads and gather traffic data.

Increased Competition in China

The FSD rollout is a major win for Tesla as competition heats up in China. Chinese rivals like BYD, Nio, and XPeng have rapidly grown in recent years. BYD briefly surpassed Tesla in EV sales last year before deliveries plunged in early 2023.

The key takeaway is that Tesla has cleared regulatory hurdles to roll out its advanced FSD technology in China. This driver assistance system is not fully autonomous yet, but the milestone shows Tesla is making progress despite intensifying competition.

Tags: BaiduBYDteslaTSLAXPeng
Tweet1ShareShare2

DON'T MISS THESE! HOT OFF THE PRESS

Chainlink’s Bullish Setup: Why LINK Could Follow Bitcoin to New Highs
Chainlink

Chainlink’s Bullish Setup: Why LINK Could Follow Bitcoin to New Highs

May 24, 2025
FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means
Crypto

FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means

May 24, 2025
Sui Faces Its First Major Governance Crisis After $223M Cetus Hack
Crypto

Sui Faces Its First Major Governance Crisis After $223M Cetus Hack

May 24, 2025
Cardano (ADA) Blasts Through Key Levels — Is This the Comeback We’ve Been Waiting For?
Cardano

Cardano (ADA) Blasts Through Key Levels — Is This the Comeback We’ve Been Waiting For?

May 24, 2025
Dogecoin Is Warming Up for a Monster Breakout – Are the “God Candles” Coming?
Crypto

Dogecoin Is Warming Up for a Monster Breakout – Are the “God Candles” Coming?

May 24, 2025
SOL’s Clear Signal: Symmetrical Triangle Breakout Paves Way for $205
Crypto

SOL’s Clear Signal: Symmetrical Triangle Breakout Paves Way for $205

May 24, 2025
Load More

Related News

Chainlink’s Bullish Setup: Why LINK Could Follow Bitcoin to New Highs

Chainlink’s Bullish Setup: Why LINK Could Follow Bitcoin to New Highs

May 24, 2025
FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means

FIFA Teams Up With Avalanche To Launch Its Own Blockchain—Here’s What It Means

May 24, 2025
Sui Faces Its First Major Governance Crisis After $223M Cetus Hack

Sui Faces Its First Major Governance Crisis After $223M Cetus Hack

May 24, 2025
Cardano (ADA) Blasts Through Key Levels — Is This the Comeback We’ve Been Waiting For?

Cardano (ADA) Blasts Through Key Levels — Is This the Comeback We’ve Been Waiting For?

May 24, 2025
Dogecoin Is Warming Up for a Monster Breakout – Are the “God Candles” Coming?

Dogecoin Is Warming Up for a Monster Breakout – Are the “God Candles” Coming?

May 24, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.