Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Australia’s Under-16 Social Media Ban Sparks Global Debate and Early Challenges 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Shanghai has ignited excitement by approving the testing of ten Tesla vehicles equipped with Full Self-Driving (FSD) technology, heralding a near-future public rollout.
Shanghai’s Approval Paves Way for Tesla China’s FSD Tests
A local government-backed initiative in Shanghai has granted permission for ten Tesla vehicles to conduct tests of the most advanced autonomous driving software developed by the company. This will pave the way for the implementation of the software in China. It was reported on Friday by the Shanghai Observer (via Teslarati).
Tesla's ability to compete with local competitors in China would be improved if the company were to successfully roll out its Full Self-Driving (FSD) software. This would also potentially transform the world's largest auto market into a battleground for less-priced driver assistance features, which would escalate the price war.
For a period of four years, Tesla has been providing FSD for subscription in China; nevertheless, the capabilities that are available to users are limited.
During the month of April, Elon Musk, the CEO of the automobile manufacturer, made a surprise trip to Beijing, where it was speculated that he would discuss the implementation of FSD. According to a report that was published by Reuters in May, Tesla is beginning the process of registering FSD with the authorities in China in preparation for its scheduled rollout in this year.
During the same month, Chinese official media reported that Tesla had begun construction on a factory in Shanghai to manufacture its Megapack energy storage batteries. The Chinese media also praised the company's dedication to investing in China.
Tesla Registers FSD for 2024 China Rollout
According to The Shanghai Observer, the Nanhui New City, which is located in the financial hub, would "strengthen and supplement the chain" around Tesla's energy storage in order to significantly increase the concentration of the energy storage business.
As an additional step toward achieving local commercialization, Tesla has also signed a deal with Shanghai Lingang, the publication stated.
Tesla China’s Data Centers Aid FSD Compliance
When it comes to the launch of FSD in China, Tesla has been doing a lot of groundwork. A data center was established in Shanghai by Tesla in 2021. The site collects information from Tesla vehicles in China.
CnEVPost reported that it also contains data pertaining to Tesla China's production, sales, servicing, and charging operations. Additionally, Tesla China is able to meet regulatory standards with the help of these data centers.
Photo: Jonas Leupe/Unsplash
