🚀 Tesla FSD in China

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Shares of Tesla rose over 13% after the company announced that Chinese authorities had lifted restrictions on its cars, allowing it to potentially roll out its Full Self-Driving (FSD) technology in China, the largest market for electric vehicles. This development follows Tesla's compliance with China's data security requirements and a deal with Baidu for access to mapping and navigation technology, essential for operating FSD on public roads. Tesla's breakthrough in China comes amid growing competition from local EV manufacturers like BYD, Nio, and XPeng.

2. The Supreme Court declined to review Elon Musk's appeal against a previous agreement with the Securities and Exchange Commission (SEC) that mandates a lawyer to review his social media posts concerning Tesla. This agreement, often referred to as the "Twitter sitter" provision, was part of a settlement following Musk's 2018 tweets about potentially taking Tesla private, which the SEC labeled as misleading. Musk argued that these constraints were unconstitutional and claimed he was coerced into the agreement. However, the courts, including the 2nd U.S. Circuit Court of Appeals, have upheld the settlement, with the SEC noting that Musk had relinquished the right to contest the agreement by signing it.

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4. Headlines

   1. Japan is artificially influencing the value of the Yen as it has significantly declined.

   2. AI startups continue to outraise other sectors, many raising pre-product and pre-revenue.

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Onwards and Upwards,

Liam Gill