Tesla's (NASDAQ:TSLA) Chinese New Year Software Update Includes TikTok

February 13, 2021 03:17 AM AEDT | By Hina Chowdhary

Tesla's (NASDAQ:TSLA) Chinese New Year Software Update Includes TikTok

A Little More About Tesla Inc & Its Latest Software Update In China

Tesla usually comes up with new software updates in celebration of different festivities and holidays. For Christmas last year, the Elon Musk-led company rolled out the Firmware 2020.48.25 update which included user experience changes, fresh games and a new ‘Boombox’ mode.

As it released the latest holiday update in China, Tesla made the announcement on the Chinese social media platform, Weibo. The electric car maker reportedly posted in Chinese that its users will now be able to access ‘Douyin’, as TikTok is called in China, on Tesla vehicles, among other features.

Tesla, which is said to have hinted “more surprises” waiting for its Chinese users, has also put out a video showing the new software update.

The newest update comes in the heels of a formal meet between representatives of the Chinese government and Tesla regarding customer reports of battery fires and other malfunctions in Tesla cars.

Tesla records a generous slice of sales from China. As per a recent SEC filing, about 21 per cent of its revenues came from the country in 2020.

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Tesla’s Stock Performance

Stocks of Tesla Inc have galloped by roughly 431 per cent in the past one year. The EV stocks jumped about 93 per cent in the span of last three months.

The company’s rising stock price saw its founder Elon Musk’s net worth expand through 2020. Early on January, he dethroned Amazon boss Jeff Bezos to become the wealthiest human of earth.

In the wake of its Chinese New Year update reveal, however, Tesla stocks reflected a decease of about two per cent on Friday morning (10:45AM EST) at the time of writing this.

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