Rare good news for Elon Musk

After being hammered from almost every angle, tech billionaire Elon Musk has reason to have a bounce in his step again.

After being hammered from almost every angle, tech billionaire Elon Musk has reason to have a bounce in his step again.

Stock in Musk’s EV giant Tesla jumped 11.9 per cent overnight, closing at $178.39, as investors reacted to the CEO’s announcement around the company’s Full-Self Driving (FSD) technology.

According to Reuters, Tesla is preparing to launch its FSD technology in China.

If approved by regulators, the advanced driver-assistance system would be the first international rollout for Tesla.

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Elon Musk is bouncing back. Picture: Mandel NGAN / AFP

Tesla’s stock price rebound comes as welcome relief to Musk amid continued critcisim of his role in the Trump administration, and the continued violent attacks upon the company’s showrooms.

CHINA IS CHEAPER

However, in China, brands like BYD already offer FSD technology, and at a far lower price.

Shares have also benefited from speculation that the Trump administration may scale back planned tariffs due to begin on 2 April.

A softer stance on tariffs would benefit Tesla who relies on many components from Mexico and Canada.

Despite the sharp rise, Tesla’s share price remains low, down 50 per cent from its peak last year.

The automaker continues to face a series of setbacks including weak European sales, delivery shortfalls and rising competition.

According to Jato Dynamics, February sales fell 44 per cent year-on-year across 25 countries, while January dropped 45 per cent.

Rivals like BYD are capitalising on Tesla’s struggles.

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Tesla is preparing to launch its Full-Self Driving (FSD) technology in China. Picture: Supplied

The Chinese automaker has rolled out a fleet of affordable models which are gaining ground in markets like Australia.

It also recently announced a new supercharging EV technology platform and added smart driving features to its line-up, at no extra cost.

The BYD Seal 5 from Chinese electric vehicle (EV) manufacturer BYD is pictured at the 2025 Bangkok International Motor Show. Picture: Chanakarn Laosarakham / AFP

BYD reported a 73 per cent jump in Q4 net profit to 14 billion yuan (USD $2.1 billion).

The company also posted a full-year revenue of $97.7 billion, surpassing Tesla (US $107 billion).

Additionally Musk’s political involvement has sparked global protest and has clouded the long-term picture.

Another set of demonstrations labelled “global day of action” are planned for March 29 with activists targeting Tesla showrooms and charging stations.

“Elon Musk is destroying our democracy, and he’s using the fortune he built at Tesla to do it. We are taking action at Tesla to stop Musk’s illegal coup,” the site says.

“Tesla Takedown is a peaceful protest movement. We oppose violence, vandalism and destruction of property.”

Originally published as Rare good news for Elon Musk