Tesla nasdaq Tsla Shares Surge on News of Nationwide Cybertruck Showcase in China

Tesla (NASDAQ: TSLA) Shares Surge on News of Nationwide Cybertruck Showcase in China

Tesla (NASDAQ: TSLA) shares jumped over 1% in the pre-market trading Thursday following an exciting announcement. The electric vehicle (EV) giant is set to launch a nationwide tour in China, showcasing its cutting-edge Cybertruck pickup—the electric revolution hitting the streets of the world’s second-largest market.

The announcement was made via the popular Chinese social media platform WeChat on Thursday. The US automaker hasn’t disclosed the specific dates for the tour.

Tesla CEO Elon Musk added to the excitement with a Sunday post on the X platform, hinting at the possibility of shipping some Cybertruck prototypes for display in China. However, he acknowledged the challenges of making electric pickup legal for the road in the country.

Unlike the United States, pickups have been a niche product in China. Many city governments, including Beijing, have restrictions on allowing pickups to enter downtown areas.

Tesla has not yet made the Cybertruck available for order on its Chinese website, leaving enthusiasts eager for updates on when they can secure this innovative electric pickup in China.

The development comes a day after Tesla (NASDAQ: TSLA) announced a significant price reduction for its Model Y cars in Europe, mirroring recent cuts in China. This decision comes amid uncertainties in the demand for electric vehicles.

Tesla has reduced prices for its Model Y Long Range and Model Y Performance by 5,000 euros each, bringing them to 49,990 and 55,990, respectively. This marks a substantial discount of 9% and 8.1% compared to their previous prices. The Model Y rear-wheel drive models also saw a 4.2% price cut.

In France, Tesla has lowered Model Y prices by up to 6.7%, while Denmark experienced cuts of up to 10.8%. The Netherlands witnessed a reduction of up to 7.7%, and Norway fell in line with price drops ranging between 5.6% and 7.1%, as reported by CNBC.