Tesla stock surges on ‘watershed’ full self-driving approval in China

News Snapshot:

Tesla (TSLA) stock soared Monday following reports that CEO Elon Musk won Chinese approval to deploy the automaker’s Full Self-Driving (FSD) autonomous software on the mainland. As was first reported by the Wall Street Journal, people familiar with the matter said that officials told Tesla that they had tentatively approved FSD in the country during Musk’s 24-hour visit to Beijing over the weekend. Separately, Bloomberg earlier reported that Tesla will use Chinese tech company Baidu’s street-level mapping data to power FSD. Tesla had been previously using Baidu’s mapping data for satellite navigation in its cars. Working with a Chinese company...