Tesla is readying a software update for customers in China to offer driving-assistance capabilities similar to its Full Self-Driving (FSD) features in the U.S., Bloomberg News reported on Monday, citing a person familiar with the matter.

Tesla Inc.’s stock fell briefly back to three-month lows on Monday after a short-lived boost from news that the electric-vehicle giant was making progress in its full self-driving offerings in China.

Tesla is preparing to update its software in China to offer driving-assistance features tailored for urban navigation, according to company sources. Despite a premature notification retraction, the update will introduce capabilities similar to 'Full Self-Driving' while staying within regulatory boundaries amid technological constraints.