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Name | Last | Chg |
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Dow Jones | 39512.84 | 0.32% |
NASDAQ | 16340.87 | 0.03% |
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Name | Last | Chg |
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Dow Jones | 39512.84 | 0.32% |
NASDAQ | 16340.87 | 0.03% |
Symbol | Last | Chg |
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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 |
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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 |
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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% |
(Recasts with plane landing, adds GM CEO visit to Beijing
autoshow in paragraph 13)
SHANGHAI, April 28 (Reuters) - A private jet linked to
Tesla
flight tracking app showed, as two people with knowledge of the
matter said the billionaire was kicking off a surprise visit to
the automaker's second-biggest market.
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. electric vehicle 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.
LANDED IN BEIJING
A Gulfstream private jet with tail number N272BG, which is
registered to Falcon Landing, a company connected to SpaceX and
Tesla, landed at Beijing Capital Airport on Sunday at 0603 GMT,
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 on his
last trip nearly a year ago, when he met with Chinese government
officials in Beijing and visited Tesla's Shanghai factory.
Tesla has sold more than 1.7 million cars in China since it
entered the market a decade ago and the Shanghai factory 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.
GM
show in the world's biggest auto market on Friday, according to
two people with knowledge of her schedule. GM did not
immediately respond to a request for comment.
Also on Friday, 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,
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;))