Tesla shares spike 12% as Elon Musk wins approval for full self-driving rollout in China

Tesla shares surged more than 12% in early trading Monday after CEO Elon Musk secured approval to roll out “Full Self Driving” technology in China after a whirlwind weekend trip to the country.

Top Chinese officials gave Tesla tentative permission to launch the software following a meeting with Musk during his surprise trip to Beijing. Tesla will rely on Chinese tech giant Baidu’s mapping license for navigation on public roads, people familiar with the matter told the Wall Street Journal.

During his trip, Musk met with top Chinese officials, including Premier Li Qiang, who previously helped clear the way for Tesla to launch its production facility in Shanghai. The exact timing of a FSD rollout was not immediately clear.