Elon Musk's Strategic Moves in China's EV Market

Elon Musk made a surprise visit to China to meet with the number two guy in the country and seek permission to introduce Full Self-Driving (FSD) technology there. This move is significant as China has a different regulatory regime and geographic mapping compared to the US. China is crucial for Tesla as it is the largest electric vehicle market with immense potential, backed by strong government support and investments. Musk's pivotal role in China's EV industry is evident, fueled by the government's aim to position him at the forefront of the sector's growth. This strategic alignment has been beneficial for Musk and Tesla, evident from the surge in Tesla's stock value following his visit and the market's belief that the future lies in selling software rather than cars.