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Tesla Rallied as It Vowed to Ensure Data Security

On Friday, Tesla stocks climbed as it vowed to ensure data security during the World New Energy Vehicle Congress in China.

This week, the giant carmaker surged 0.15% or 1.16 points to $756.99 per share following its rally.

In addition, Tesla stands with a market capitalization of $749.43 billion and $990.02 million shares outstanding.

Moreover, the electric vehicle manufacturer guaranteed it would work with the global regulators to secure customers’ data.

Also, Elon Musk highlighted that the emerging autonomous driving market draws concerns on security. 

Then, he also commended the boosting electric vehicle industry in China during the said convention.

In 2019, Tesla opened a factory in Shanghai. It now faces competition from the local EV makers Nio Inc. and Li Auto Inc.

On Friday trading, Nio Inc. declined 2.47% or 0.94 points to $37.09 per share.

At the same time as Lio Auto shed 2.89% or 0.86 points to $28.88 per share.

In 2020, China’s 147,455 car sales accounted for 20.00% of Tesla’s total global sales.

Meanwhile, Tesla owners are disappointed with the years-long delay of the full self-driving feature.

Consequently, users noted certain weaknesses in the company’s autonomous driving technology.

Whereas some Tesla models mistakenly confuse the moon for a traffic signal.

In addition, some situations require drivers to tap the accelerator to go through an intersection.

Furthermore, Start-up Lucid Motors beat Tesla as they announced their EV cars’ EPA range.

Accordingly, the Lucid Air Dream Edition reached 520 miles edging up 115 miles more than Tesla’s Model S Long Range. 

Consequently, Lucid Group Inc. improved 6.33% or 1.26 points to $21.17 per share.

Global Stocks Mixed as Tesla Climbed


Moreover, global stocks mixed as Tesla climbed despite losing the race to Lucid Motors.

The MSCI World index improved 0.14% or 4.38 points to $3,127.00 per share.

The Nasdaq Composite index strengthened 0.13% or 20.39 points to $15,181.92 per share on Wall Street. 

Subsequently, the S&P 500 index plummeted 0.16% or 6.95 points to $4,473.75 per share. 

Similarly, the Dow Jones Industrial Average index decreased 0.18% or 63.07 points to $34,751.32 per share. 

In Europe, Germany’s MDAX Performance index spiked 0.76% or 271.89 points to $35,829.77 per share. 

On the London Stock Exchange, the FTSE 100 index extended 0.27% or 19.22 points to $7,046.70 per share.

In China, the Shanghai Composite index rose 0.19% or 6.87 points to $3,613.97 per share.

Also, the Shenzhen Component index enhanced 0.71% or 101.23 points to $14,359.36 per share. 

Furthermore, Japan’s Nikkei 225 index soared 0.58% or 176.71 points to $30,500.05 per share. 

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