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Tesla shares jump after reports of China deal

Tesla's shares have jumped after reports that the firm has cleared an important regulatory hurdle in China by partnering with search giant Baidu.

The reports come after chief executive Elon Musk made a surprise visit to meet the country's number two leader, Premier Li Qiang.

The deal with Baidu brings Mr Musk a step closer to rolling out Tesla's self-driving technology in China.

Tesla's share price jumped almost 12 percent as markets opened in the US, which means the stock has recovered some of the value it has lost since the start of the year, with the price down over a quarter since January.

The current reported go-ahead allows it to sell parts of its autonomous driving technology in China, such as assisted parking, but full autonomous technology will require further approval.



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