The carmaker’s most advanced driver-assistance software is available in the U.S. but hasn’t received final approval from the authorities in the world’s largest electric-vehicle market.

The development marked a breakthrough for Tesla’s chief executive, Elon Musk, in a country where his company has faced increasingly tough competition.

Current prices put the auto maker’s market value below $1 trillion. The stock needed to maintain a share price of about $311 to keep that mark.

Tesla sales in Europe declined 45% last month. That's despite EV sales overall rising 37%. Elon Musk is becoming a more polarizing figure in Europe, likely impacting sales. The electric vehicle (EV) pioneer is seeing its sales in Europe crumble according to a report by Bloomberg released Tuesday.

Shares of Tesla have now dropped 40% from their December highs as the stock finds urgent technical support at $300. Headlines and reporting have sourced a significant drop in consumer demand for Tesla’s over the last month as would-be buyers appear to be holding back on their purchases in protest of Elon Musk’s involvement with the White House Administration.