|
Name | Last | Chg |
---|---|---|
Dow Jones | 39512.84 | 0.32% |
NASDAQ | 16340.87 | 0.03% |
|
Name | Last | Chg |
---|---|---|
Dow Jones | 39512.84 | 0.32% |
NASDAQ | 16340.87 | 0.03% |
Symbol | Last | Chg |
---|---|---|
LIDR | 2.5800 | 115.00% |
NVAX | 8.8800 | 98.66% |
ITOS | 17.4400 | 43.07% |
SRTS | 5.2900 | 38.85% |
CDNA | 14.8300 | 34.09% |
Symbol | Last | Chg |
---|---|---|
MGNX | 3.3100 | 77.44% |
EVLV | 2.3600 | 38.54% |
FATBB | 4.9800 | 28.86% |
FAT | 5.4200 | 27.73% |
FLUX | 3.4200 | 25.33% |
Symbol | Last | Chg |
---|---|---|
NVAX | 8.8800 | 98.66% |
LIDR | 2.5800 | 115.00% |
NKLA | 0.5370 | 6.77% |
FFIE | 0.0461 | 13.55% |
SQQQ | 10.6100 | 0.66% |
(Adds details on cancelled India trip, timing of Beijing
landing and autonomous driving in paragraphs 7-15)
SHANGHAI, April 28 (Reuters) - Tesla
Musk was on a flight heading to Beijing on Sunday to kick off a
surprise trip in the electric vehicle maker's second-biggest
market, according to two people with knowledge of the matter.
Musk is seeking to meet senior Chinese officials in Beijing
to discuss the rollout of Full-Self Driving (FSD) software in
China and to obtain approval to transfer data collected in the
country abroad to train algorithms for its autonomous driving
technologies, one of the people said.
Tesla has since 2021 stored all data collected by its
Chinese fleet in Shanghai as required by Chinese regulators and
has not transferred any back to the United States.
The U.S. EV maker rolled out FSD, the most autonomous
version of its Autopilot software, four years ago but has yet to
make it available in China despite customers urging it to do so.
Musk said this month Tesla may make FSD available to
customers in China "very soon", in response to a query on social
media platform X.
Rival Chinese automakers such as Xpeng
seeking to gain an advantage over Tesla by rolling out similar
software.
Musk's visit to China was not flagged publicly and the
people spoke on condition of anonymity because they were not
authorised to speak with media. Tesla did not respond
immediately to a request for comment.
The trip came just over a week after he scrapped a planned
visit to India to meet with Prime Minister Narendra Modi, citing
"very heavy Tesla obligations."
The company said this month it would lay off 10% of its
global workforce as it grapples with falling sales and an
intensifying price war for EVs led by Chinese brands.
HEADING TO BEIJING
A Gulfstream private jet with tail number N272BG, which is
registered to Falcon Landing, a company connected to SpaceX and
Tesla, was scheduled to land at Beijing Capital Airport at 0544
GMT on Sunday, according to Chinese flight tracking app Flight
Manager.
The other jet registered under Falcon Landing is N628TS,
which is Musk's main jet that he used to travel to China last
year.
Tesla has sold more than 1.7 million cars in China since it
entered the market a decade ago and its factory in Shanghai is
its largest globally.
Musk's visit coincides with the Beijing autoshow, which
opened last week and ends on May 4. Tesla does not have a booth
at China's largest autoshow and last attended in 2021.
Grace Tao, Tesla's vice president in charge of external
relations in China, published a commentary on the social media
account of state media outlet People's Daily on Friday, arguing
that autonomous driving technologies would be the new growth
engine for EV industry.
Tao said in the article that Tesla was leading autonomous
driving research and development with its "end-to-end neural
network" technology and data collected from millions of cars on
the road.
China's complicated traffic conditions with more pedestrians
and cyclists than in many other markets provide more scenarios
that are key for training autonomous driving algorithms at a
faster pace, according to industry experts.
Musk said last week Tesla would introduce new, cheaper
models using its current EV platforms and production lines and
would offer a new "robotaxi" with self-driving technology. He
said in a post on X this month that he would unveil the robotaxi
on Aug. 8.
Tesla shares are down almost a third since the start of the
year as concerns have grown about the EV maker's growth
trajectory. Last week, Tesla reported its first decline in
quarterly revenue since 2020 when the COVID-19 pandemic slowed
production and deliveries.
(Reporting by Zhang Yan and Brenda Goh; Editing by Jamie Freed)
((Zoey.Zhang@thomsonreuters.com;))