Tesla (TSLA) is stocking up after passing the full self-driving hurdle in China

A Tesla Inc. store in Beijing, China, on Wednesday, May 31, 2023.

Bloomberg | Getty Images

Shares of Tesla rose sharply in U.S. premarket trading on Monday after the electric car maker reached a major milestone in rolling out its full self-driving technology in China.

The company's share price was up 7% as of 5 a.m. ET as investors reacted to news surrounding Tesla CEO Elon Musk's visit to China.

Tesla said on Sunday that local Chinese authorities have lifted restrictions on its cars after meeting the country's data security requirements. The move raised expectations that Tesla's Full Self Driving driver assistance software would soon be available in the country, the largest market for electric vehicles.

This latest news item is being updated.

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