Tesla's stock leaps on reports of Chinese approval for the company's driving software

FILE - A Model X sports-utility vehicle sits outside a Tesla store in Littleton, Colo., June 18, 2023. Shares of Tesla stock rallied Monday, April 29, 2024, after the electric vehicle maker's CEO, Elon Musk, paid a surprise visit to Beijing over the weekend and reportedly won tentative approval for its driving software.

In afternoon trading, shares in Tesla Inc., which is based in Austin, Texas, surged almost 15% — its biggest one-day jump since February 2020. For the year to date, shares are still down 22%.plunged by more than half, but it touted a newer, cheaper car and a fully autonomous robotaxi as catalysts for future growth.

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