tl;dr
Tesla (NASDAQ:TSLA) CEO Elon Musk has proposed testing the automaker's Full Self-Driving software in China through robotaxis, with the Chinese government offering partial support for the proposal. While the rollout of FSD has not been approved, Chinese officials have indicated that Tesla is welcome ...
Tesla (NASDAQ:TSLA) CEO Elon Musk has proposed testing the automaker's Full Self-Driving software in China through robotaxis, with the Chinese government offering partial support for the proposal. While the rollout of FSD has not been approved, Chinese officials have indicated that Tesla is welcome to conduct some robotaxi tests in the country. Tesla plans to unveil its robotaxi on August 8, but analysts anticipate that it will take years before the fleet becomes a major disruptor. Tesla would still need approval to collect and transfer data in China to train its advanced driver assistance system, a hurdle that was not discussed in detail during Musk's surprise visit to China last month, according to China Daily. Additionally, Tesla reportedly reached a deal with Baidu (BIDU) to access its mapping license for data collection on Chinese roads, although a source close to Baidu stated that he didn't see "any new deal related to FSD" between the companies. Moreover, Musk is sending Tesla's former China head, Tom Zhu, known for his troubleshooting prowess, back to China to lead operations there. Following his success in Shanghai, Zhu was promoted to head North American sales last year, making him second in command to Musk. Zhu's planned move to China follows back-to-back layoffs and multiple executive exits at Tesla, with Musk seen as isolating himself at the top.
More about Tesla Inc
Company: Tesla Inc
Industry: Manufacturing, Motor Vehicles & Passenger Car Bodies
Market Cap: $589.24 billion
Current Price: $47.13
Dividend Yield: None
Price/Earnings Ratio: 3.92
EPS: $29.8
Beta: 0.144
Revenue: $94.74 billion
Net Income: $166.46
Operating Margin: -0.534
Profit Margin: -0.087
More about Baidu Inc
Baidu Inc Summary
Baidu, Inc. provides Internet search services primarily in China. The company is headquartered in Beijing, China.
Industry: Technology
Sector: Services-Computer Programming, Data Processing, etc.
Market Cap: $39.76 billion
PE Ratio: 14.89
Dividend Yield: None
EPS: 7.61
Stock Price: $383.61
Price-to-Earnings Growth Ratio: 0.151
Revenue: $134.59 billion
Net Income: $156.06
Debt-to-Equity Ratio: -0.572
Return on Equity: 0.057
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