Tesla (TSLA) top executive Elon Musk returned from a trip to China with a deal allowing the enterprise to implement its “Full Self-Driving” (FSD) technology in the country. After the announcement, the enterprise’s shares began to rebound from recent lows.
Wedbush Managing Director and Senior Equity Analyst Dan Ives joins sector Domination to discuss Musk’s recent trip to China and the impact it will have on the enterprise moving forward.
Ives outlines Tesla’s key victories in China: “If you look what Musk has been able to do, remember years ago they say he would never be able to build a factory in China now look at GIga. The point is they need Tesla as much as Tesla needs China because it’s the trophy case. You look at Apple (AAPL), you look at Tesla, two of the best brands in the world, that’s why they allow this. With Baidu as a partner. And the reason it’s so important is that Tesla almost had one hand behind its back not having FSD in China, now they have that. And I believe what is starting to get factored in here is the demand. I’m not saying the next week or two, but demand recovery in China. But betting against Musk, it’s like betting against Brunson in the playoffs. ”
#youtube #Tesla #china #news
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