Bloomberg reported that Tesla (TSLA.US) will begin a mapping and navigation cooperation with BIDU-SW (09888.HK) +2.400 (+2.379%) Short selling $619.80M; Ratio 29.303% . BIDU once surged 7% in the afternoon to $108, a two-month high. It trades now at $106.1, hiking 5.15%, with 10.2378 million shares traded, involving $1.058 billion.
Tesla will use BIDU's lane-level map information as the basis for its full-self-driving (FSD) service in the Mainland, the report said, citing people with knowledge of the matter.
Tesla CEO Elon Musk is visiting China, and is expected to seek to launch FSD software in the country to save the company from the sales setback.
On the other hand, the China Association of Automobile Manufacturers (CAAM) and CNCERT issued yesterday (28 Apr) a circular that the production models of Tesla Shanghai Super Factory complied with the automotive data security requirements, and hence local authorities, airports and highways lifted the no-traffic and no-parking restrictions on Tesla.
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