Tesla Stock Surges on Plans to Expand Full Self-Driving Globally

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Tesla Stock Surges on Plans to Expand Full Self-Driving Globally

Tesla (NASDAQ:) announced plans to launch its Full Self Driving (FSD) product in Europe and China by early 2025, marking a significant expansion of its advanced driver assistance technology. The electric vehicle manufacturer, led by CEO Elon Musk, aims to introduce the paid add-on feature in these key markets pending regulatory approval. This move comes as Tesla’s stock experiences notable gains, reflecting investor optimism about the company’s future in autonomous driving technology.

Tesla’s Expansion of Full Self-Driving Technology

Tesla revealed its intentions to bring FSD to ********* and ******** markets through a post on the X social media platform. The company anticipates launching the feature in the first quarter of 2025, with Musk previously expressing confidence in obtaining regulatory clearance by the end of 2024. FSD, an upgrade to Tesla’s existing Autopilot system, is already available in some form in both regions, with China currently offering a premium option called Enhanced Autopilot.

Despite its name, Full Self Driving does not make vehicles fully autonomous. Drivers are still required to remain attentive and ready to take control at any moment. The technology represents a crucial part of Musk’s strategy to position Tesla as a leader in AI and self-driving capabilities.

However, the company faces several challenges, including regulatory hurdles, competition from established players like Waymo and Pony.ai, and the need to manage consumer expectations about the system’s limitations.

Tesla Stock Performance and Financial

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As of 10:27 AM EDT on September 5, 2024, Tesla’s stock (TSLA) was trading at $234.68, up 6.96% for the day. The company’s market capitalization stood at $750.165 billion, reflecting its position as one of the most valuable automakers globally. Tesla’s financial metrics show a mixed picture, with a trailing P/E ratio of 61.63 and a forward P/E of 69.44, indicating high growth expectations from investors.

Tesla’s year-to-date return of -5.50% lags behind the ’s 16.27% gain, but its five-year return of 1,496.11% significantly outperforms the broader market.

The company reported total revenue of $95.32 billion and net income of $12.39 billion over the trailing twelve months, with a profit margin of 13.00%.

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Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our

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