New York (Business Emerge), September 6: Tesla Inc.’s stock surged by more than 6% on Thursday, bolstered by the company’s ongoing push to introduce its Full Self-Driving (FSD) software in European and Chinese markets. The launch, dependent on regulatory approvals, reflects Tesla’s continued efforts to lead the autonomous vehicle space. This development comes as the company prepares for the unveiling of its highly anticipated robotaxi, “Cybercab,” next month.
CEO Elon Musk announced in July that Tesla is likely to secure regulatory approvals for FSD in these regions before the year ends. He further indicated on Thursday that the right-hand drive version could be rolled out as early as the first quarter of next year, or possibly in the April-June period.
While Wall Street remains cautious about the challenges self-driving technology faces from regulatory bodies, investors remain optimistic about a possible acceleration of approvals in the U.S., especially if the political landscape shifts. However, China might present fewer barriers, with Tesla collaborating with local tech giant Baidu for navigation solutions.
Europe, on the other hand, may present a longer road to approval. Shanghai, home to one of Tesla’s key gigafactories, has already allowed FSD testing on 10 vehicles as of June, setting the stage for its rollout in China, where competition from domestic manufacturers is fierce.
Despite these ambitious plans, there is ongoing skepticism from analysts and investors, particularly due to Musk’s history of setting aggressive timelines that are often missed. Previous targets for FSD, the Semi, and the Cybertruck were delayed. However, the company recently revealed new advancements, including a feature called “Actually Smart Summon” and an FSD version for the Cybertruck, with version 13 of the software requiring fewer interventions slated for release next month.