Tesla shares gain on plans to launch Full Self-Driving in Europe

Tesla shares gain on plans to launch Full Self-Driving in Europe, China

Tesla shares rose 2.5% on Thursday after the electric automaker stuck to its plans to roll out the Full Self-Driving (FSD) advanced driver assistance software in China and Europe

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This comes about a month ahead of the company's unveiling of its robotaxi product, "Cybercab"

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CEO Elon Musk said in July Tesla was likely to get regulatory approval for FSD in both the regions by the end of the year.

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It also announced other features like Actually Smart Summon, FSD for the Cybertruck electric pick up truck this month

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Shanghai, which houses one of Tesla's gigafactories, allowed 10 vehicles to carry out tests of FSD in June, paving the path for its roll out in China.

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Tesla's stronger focus on products such as its humanoid robot, the robotaxi and FSD comes as EV sales continue to be under pressure from higher borrowing costs

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Investors, however, anticipate that a potential Trump administration could expedite the regulatory process.

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