Tesla shares rose 0.7% in the premarket, despite a decline in its market presence in China in April. The China Passenger Car Association revealed that Tesla’s market share contracted 2.6 percentage points from a year earlier, now standing at 4%. The US-based electric vehicle company’s sales showed a decline of 21% compared to the same period last year, with a total of 31,421 units sold in April. However, this decline contrasts with the overall 28% increase in electric car sales across the country.
Tesla is currently waiting to obtain final authorization to market its innovative autonomous driving software in China. This represents a crucial step for the company, given the significant growth potential that the Chinese market offers for autonomous driving technology and electric vehicles in general.