Tesla Inc (NASDAQ:TSLA) shares are trading lower Tuesday, pulling back after rallying more than 15% on Monday. Here’s a look at what’s going on.
What Happened: Tesla shares clocked their best day since March 2021 on Monday after the company made progress on its rollout of its full self-driving technology in China.
Tesla CEO Elon Musk made a surprise visit to China over the weekend. The EV maker on Sunday announced that Chinese authorities removed restrictions on Tesla vehicles after the company passed data security requirements in China. Tesla is expected to partner with Baidu for mapping and navigation capabilities in the country.
“Honored to meet with Premier Li Qiang. We have known each other now for many years, since early Shanghai days,” Musk said in an X post over the weekend.
Wedbush analyst Dan Ives called the announcement a “watershed moment” for Tesla.
"Musk winning FSD approval in ...