Tesla’s Stock Surge After Elon Musk’s Trip to China
Elon Musk’s visit to China apparently yielded immediate results. According to an agreement with the internet search company Baidu, Tesla will use this company’s map data for driver-assistance technology in the world’s largest car market.
Elon Musk made an unannounced trip to China over the weekend. The American billionaire posted a picture of his meeting with Li Qiang, the Chinese Premier, on X, formerly known as Twitter.
According to Bloomberg news sources, Baidu, which dominates internet search in China, is helping Tesla by providing maps and navigation to launch its driver-assistance technology, which it calls Full Self-Driving or FSD. Map services, which are crucial for driver-assistance technologies, are heavily controlled by the Chinese government.
Of course, FSD does not offer full autonomous driving and still requires a driver to keep their hands on the wheel and be ready to take control of the vehicle at any moment. Nevertheless, launching this technology in China could help Tesla in the intense competition for market share in this country and bring in more revenue.