BUZZ-Tesla climbs after clearing key hurdle for self-driving software in China

Reuters04-29

** Tesla shares up nearly 6% at $178.40 premarket

** Tesla has cleared some key regulatory hurdles that have long hindered it from rolling out its self-driving software in China

** It paves the way for a favorable result from Elon Musk's surprise visit to the U.S. automaker's second largest market

** Rollout of Full Self-Driving $(FSD)$ in China would allow Tesla to better compete with local rivals in the world's largest auto market where driver assistance and other connected car features are prized

** It comes at a time Tesla reported first quarter fall in vehicle deliveries in nearly 4 years in the Jan-March period and began Q2 announcing lay offs of more than 10% of its global workforce

** Stock climbed 14% last week in its best weekly performance in 15 months; YTD stock has lost about a third of its value

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))

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