Techbytes: Elon Musk smiles again, as Tesla sees 11.9% stock surge following announcement of full-self driving technology
Soon after unveiling his groundbreaking electric-powered airplane, and also facing criticism from multiple fronts, tech billionaire Elon Musk has reason to smile once again.
Tesla’s stock surged 11.9 percent, closing at US$178.39, after Musk’s announcement about the company’s Full-Self Driving (FSD) technology.
According to Reuters, Tesla is preparing to launch FSD in China.
If approved by regulators, this would mark the first international rollout of Tesla’s advanced driver-assistance system.
According to news.com.au,the stock rebound is a much-needed boost for Musk, especially amidst ongoing criticism of his involvement in the Trump administration and violent attacks on the company’s showrooms.
However, in China, competitors like BYD already offer FSD technology at a lower price.
Tesla’s shares also gained due to speculation that the Trump administration may delay tariffs scheduled to take effect on April 2.
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