April 29, 2024 - $Tesla (TSLA.US)$ shares surged 7.02% to $180.10 in pre-market trading on Monday.
On April 28, 2024, Tesla's CEO Elon Musk made an unannounced visit to Beijing. Following his meeting with Chinese officials, Tesla sought approval to launch its advanced assisted driving features in the country.
According to sources familiar with the matter, Tesla is partnering with Baidu on mapping and navigation features to clear regulatory hurdles for its autonomous driving services in China.
The deployment of its autonomous driving services will be based on lane-level navigation and mapping provided by Baidu. Collaborating with a Chinese company has also helped to ease concerns among regulators regarding data-security risks.