Tesla (TSLA) shares rose nearly 4% in pre-market trading on Monday, poised to kick the week with a positive note amid optimism about ease of US tariff plans.
Over the weekend, President Trump reported that he would refrain from introducing tariffs in the automotive sector on April 2, as expected. Concerns about the impact of the new trade obligation on Tesla’s future outcomes have contributed to Wall Street’s recent revenue outlook.
On Monday, the electric vehicle manufacturer responded to a suspend complaint in China for a fully automated driving test, saying it would release the feature once regulatory approval is secured.
At the same time, Tesla is working to slow sales in overseas markets as rivals like BYD (BYDDY, 1211.HK) are on the ground. BMW (BMW.DE) and Volkswagen (VWAGY, VOW3.DE) outperformed European EV manufacturers in February, new data show.
Tesla’s stocks surged after the US elections after being driven by investors’ optimism over CEO Elon Musk’s close ties with the Trump administration, but were then pulled back from those highs.
After Tesla revealed plans to launch its Robotaxi service in 2025, the stock began digging from last week’s latest DIP.
