Tesla CEO Elon Musk's China Visit Signals Seriousness, Gains Investor Confidence
Tesla, Elon Musk, and the Bet of the Century," recently highlighted the significance of Tesla CEO Elon Musk's visit to China, emphasizing its impact on investor confidence.
During an interview on CNBC's "Last Call," Higgins described how Musk's visit and his visible seriousness during the earnings call were positively received by investors. He noted that investors are "starved for Elon's attention" and were "ecstatic" with the recent developments.
Higgins also pointed out that Musk's visit sends a message to the Chinese market that "Tesla has the endorsement of the government," which is crucial considering the skepticism and restrictions Tesla has faced in the country.
This visit comes at a critical time for Tesla, as the company recently cleared China's data security requirements for its Model 3 and Model Y vehicles. This approval paves the way for the deployment of Tesla's full self-driving (FSD) driver assistance software in the world's largest EV market.
Musk's meeting with Xi Jinping's number 2, Li Qiang, further fueled speculation about the potential rollout of full-self driving in China. This meeting was seen as a significant step in strengthening Sino-U.S. trade cooperation, with Tesla being a successful example of this partnership.
The positive response to these developments was reflected in Tesla's share price, which surged over 15% on Monday. This indicates the market's confidence in Tesla's progress in China.