Jump to content

Tesla makes headway in China with Baidu deal


Recommended Posts

Posted

Iconic US electric carmaker Tesla has boosted its presence in the key Chinese market through a deal with tech firm Baidu.

EVSource: Getty Images
 

Written by: Chris Beauchamp | Chief Market Analyst, London
 
Publication date: 

Tesla and Baidu team up in autonomous driving push

In a major development, electric vehicle pioneer Tesla has forged a strategic partnership with Chinese tech behemoth Baidu to leverage its mapping and navigation technologies in China. This move is a critical step in complying with regulatory requirements for foreign automakers selling smart vehicles in the world's largest auto market.

Elon Musk makes a surprise visit to Beijing

The announcement of the Tesla-Baidu collaboration comes on the heels of Tesla CEO Elon Musk's unexpected visit to Beijing, where he met with China's Premier Li Qiang. This visit took place amidst declining Tesla sales and growing data security concerns in the Chinese market.

By joining forces with Baidu, Tesla has effectively removed a significant hurdle in its quest to roll out and monetise its highly anticipated "full self-driving" advanced driver assistance system in China – the company's second-largest market after the United States.

High-definition mapping key to new initiative

Access to high-definition mapping is an indispensable component for autonomous driving features to function effectively. These systems rely on precise locational data and intricate terrain details to navigate safely and efficiently, making the partnership with Baidu a crucial enabler for Tesla's autonomous ambitions.

While Tesla vehicles have undergone data security compliance assessments by a Chinese industry group, this evaluation does not equate to official approval. Beijing maintains stringent regulations that require user data generated by self-driving technologies to be stored within China's borders.

Revenue boost on the horizon

By successfully deploying its full self-driving system in China, Tesla stands to reap significant benefits. Not only could this move dramatically increase the company's subscription revenues, but it also promises to differentiate Tesla's electric vehicles from an ever-growing pool of local competitors in the dynamic Chinese market.

Tesla stock price – technical analysis

Tesla’s shares were given a fresh boost by the news, building on an already-strong post-results rally.

The price has pushed on through the March highs, and now the next level to watch on the upside becomes the October low at $194, while just beyond this is the February high at $205.

A close above $175.73 today would mark a close above the 50-day simple moving average (SMA). This would be the first time this has happened since early January.

In the short-term, a close back below $175 would be a notable failure of bullish momentum.

Tesla chartSource: IG/ProRealTime

 

 

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Unicorn Ultra Network (U2U Network) has revolutionized cryptocurrency with a breakthrough solution to blockchain scalability issues. Their innovative approach offers infinite scalability, enhancing the efficiency of blockchain applications. U2U’s technology positions it as a leader in the crypto space, driving the future of decentralized finance (DeFi) and seamless real-world blockchain integration. Solving Blockchain's Scalability Challenge: U2U Network Leads the Way Blockchain technology has long struggled with scalability, hindering its ability to handle high transaction volumes efficiently. Networks like Bitcoin and Ethereum process only 7 and 15-25 transactions per second (TPS), while traditional payment systems like Visa can handle thousands of TPS. This scalability bottleneck leads to slow transaction speeds and high fees, limiting blockchain's real-world adoption. U2U Network offers an innovative solution, addressing this issue with infinite scalability to improve blockchain performance and make decentralized applications more practical for global use, enhancing the future of crypto and blockchain technology. U2U Network introduces an exponential scalability solution with its U2U Chain and U2U Subnet. U2U Chain, a DAG-based, EVM-compatible chain, offers low latency, faster transaction finality, and enhanced security through aBFT consensus and DPoS. Built on U2U Chain, U2U Subnet leverages Universal Messages Verification (UMV) and OstracismVM for seamless connectivity and interoperability. This combination allows U2U Network to achieve up to 72,000 TPS at launch, with a peak of 500,000 TPS and just 650 ms transaction finality, making it a groundbreaking solution for blockchain scalability and real-world applications. How to claim U2U Network (U2U) Token on Coinpedia Launchpad? Follow these steps below to claim a U2U Network token through CP Launchpad: Register on Coinpedia Launchpad: Sign up or log in to your Coinpedia account. If you don’t have one, create an account on the Coinpedia Launchpad platform. Complete KYC (Know Your Customer): Most platforms, including Coinpedia, require you to complete KYC verification to participate in ICOs. Submit the required documents and wait for verification approval. Deposit Funds: Deposit the required funds into your Coinpedia account. Typically, this could be in the form of cryptocurrency (e.g., BTC, ETH) or stablecoins, depending on the token sale's guidelines. Check for U2U Token Sale Details: Once your account is ready, navigate to the U2U Network token sale page on the Coinpedia Launchpad. Review the sale details such as the token price, allocation, and start/end time of the ICO. Participate in the Token Sale: During the sale period, use the available funds in your Coinpedia account to purchase U2U tokens. Follow the on-screen instructions to participate. Claim Your Tokens: After the token sale ends and if you have successfully participated, you can claim your U2U tokens. This may involve following a claim procedure via the Coinpedia Launchpad platform or receiving them directly into your connected wallet. Store Your Tokens: Once you’ve claimed your U2U tokens, ensure you transfer them to a secure wallet for safekeeping if they’re not automatically stored on the platform. For more accurate details about U2U Network's upcoming and ongoing crypto ICOs, you can visit their Coinpedia Launchpad and search for U2U Network listings on various cryptocurrency platforms and social media channels for updates and participation instructions.    
    • The ADA price has slipped into the red zone, currently trading below the crucial $1.20 level despite a weekly gain of over 15%. While the Cardano coin shows no immediate signs of bullish momentum, analysts remain optimistic about its potential upside. Short-Term ADA Price Prediction On smaller time frames, the ADA coin faces a pullback scenario. Key support levels lie between $1.11 and $1.21, with further downside risks if the price of Cardano drops below $1.05. However, if ADA coin regains traction, it could target $1.42, $1.72, and even $2.36 during a euphoric rally. Bitcoin’s Role in Cardano’s Future With Bitcoin’s dominance rising, Cardano crypto has been moving sideways. If Bitcoin consolidates above $100K, altcoins like ADA may rally. Such a scenario could see the Cardano price soaring to $2, a 33% rise from the current levels. Whale Activity and Long-Term Cardano Prediction Crypto whales recently accumulated over 100 million ADA, pushing the Cardano ADA price higher. Market experts foresee ADA forming a textbook ascending triangle pattern, potentially driving the Cardano crypto price to $1.50. Long-term Cardano predictions remain bullish, with some analysts eyeing a parabolic rise to $10 by 2025. Also Read: Optimism Price Prediction 2024, 2025, 2030 Cardano Price Outlook The Cardano price prediction 2024 suggests significant upside potential if ADA maintains its current structure. Traders should watch for breakouts above $1.25 and $1.33 to confirm bullish momentum.
    • MCD Elliott Wave Analysis Trading Lounge McDonald’s Corp., (MCD) Daily Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {v} of 1. DIRECTION: Upside in wave {v}. DETAILS: We are looking for a top in wave 1 of (1) or what could also easily be wave (1) of Primary 5 as we have been trading around TradingLevel3 at 300$.   McDonald’s Corp., (MCD) 1H Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave (iii) of {v}. DIRECTION: Upside in wave (iii). DETAILS: Looking for upside into wave (iii) as we approach once again 300$. Ideally looking for a classic trading level around 300$ to then confirm the long position towards ATH. This analysis of McDonald’s Corp., (MCD) focuses on both the daily and 1-hour charts, using the Elliott Wave Theory to assess current market trends and forecast future price movements. * MCD Elliott Wave Technical Analysis – Daily Chart* MCD is advancing within wave {v} of wave 1 (or potentially wave (1) of Primary 5), as it trades around the significant resistance level at $300, which corresponds to TradingLevel3. This area is critical, as it could mark the completion of this impulsive wave or set up for the next phase in a larger bullish structure. A potential top formation around this level could indicate either the completion of wave 1 or an extended move higher in Primary wave 5. * MCD Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, MCD is progressing in wave (iii) of {v}, with a clear upside momentum as it approaches the key $300 mark once again. The current price action suggests that MCD is likely to continue higher in wave (iii), and a decisive break above $300 would confirm the bullish case, with potential targets towards an All-Time High (ATH). Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here!  
×
×
  • Create New...
us