Tesla (TSLA) Stock Eyes European FSD Approval in Push for New Revenue
TLDR
- Tesla stock was up 0.1% in premarket trading at $321.78 on Thursday
- The Netherlands approved FSD but is keeping its approval data secret, complicating wider EU adoption
- An EU-wide vote on FSD could happen in October, with a UN fallback vote possible in November
- Tesla reported 1.5 million FSD subscriptions at end of Q2, up 56% year over year, generating nearly $2 billion in annual revenue
- Q2 EPS of $0.33 missed the $0.50 consensus estimate, though revenue beat at $28.24 billion
Tesla stock edged higher in premarket trading Thursday as the company pushes to get its Full Self-Driving product approved across Europe, a move that could open up a major new revenue stream.
The stock was up about 0.1% at $321.78 in premarket. That puts it down 29% year to date and up just 1% over the past 12 months.
The Netherlands approved FSD earlier this year, making it the first EU country to do so. But Reuters reported that the Netherlands is keeping the approval data secret, which could slow other EU nations from simply adopting that decision.
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