By Akash Sriram
(Reuters) -Tesla shares rose more than 6% on Thursday after the electric car maker stuck with plans to launch its advanced Full Self-Driving (FSD) advanced driver assistance software in China and Europe, pending regulatory approval supervisors.
This comes about a month ahead of the company’s unveiling of its robotaxi product, “Cybercab,” powered by the technology that helps drivers accelerate, brake and steer in cities and highways under human supervision.
CEO Elon Musk said in July that Tesla (NASDAQ:) would likely receive regulatory approval for FSD in both regions by the end of the year. The billionaire said on Thursday that FSD could be launched in right-hand drive markets in late first quarter or early April-June.
Wall Street remains cautious about self-driving technologies due to strict regulatory scrutiny. However, investors expect that a potential Trump administration could speed up the regulatory process in the US
“This may be easier in China as it has joined forces with Chinese search giant Baidu (NASDAQ:) to use its navigation system,” said Hargreaves Lansdown analyst Susannah Streeter.
“It looks like it will be a longer process for approval in Europe.”
Shanghai, home to one of Tesla’s gigafactories, cleared 10 vehicles to undergo FSD testing in June, paving the way for its rollout in China, where it faces competition from domestic automakers.
Musk’s tendency to set aggressive deadlines has raised doubts among investors and analysts, especially after he missed several optimistic targets for FSD, Semi and Cybertruck.
It also announced other features such as Actually Smart Summon, FSD for the Cybertruck electric pickup this month and version 13 of the software that will require fewer interventions next month.
