Tesla jumps 7% in premarket trade after passing key hurdle to roll out full self-driving in China

Technology

A Tesla Inc. store in Beijing, China, on Wednesday, May 31, 2023.
Bloomberg | Getty Images

Shares of Tesla rose sharply in U.S. premarket trading on Monday after the electric car maker passes a significant milestone to roll out its full self-driving technology in China.

The company’s share price was up 7% as of 5 a.m. ET, as investors reacted to news surrounding Tesla CEO Elon Musk’s visit to China.

Tesla on Sunday said that local Chinese authorities removed restrictions on its cars after passing the country’s data security requirements. The move raised expectations that Tesla’s driver-assistance software Full Self Driving would soon be available in the country, which is the largest market for electric vehicles.

This breaking news story is being updated.

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