During a recent meeting between Tesla CEO Elon Musk and Chinese Premier Li Keqiang, the two leaders discussed the potential for expanding Tesla’s presence in the Chinese electric vehicle market. While details of their conversation were not publicly disclosed, footage from China’s state broadcaster showed Premier Li praising Tesla as a successful example of Sino-American economic and trade cooperation.
According to reports, Musk is seeking permission to transfer driving data collected by Tesla in China to the US for processing. This move would allow Tesla to improve its autopilot driverless car software by leveraging its most advanced autonomous driving technology. Currently, Chinese laws prohibit the transfer of domestic data out of the country, and full self-driving autopilot has not been enabled in China.
Obtaining approval to transfer data collected in China abroad would be a game changer for Tesla, as it is the company’s second-largest market and faces competition from Chinese rivals with their own autonomous driving software. Analyst Dan Ives from Wedbush Securities believes that this move could significantly impact Tesla’s growth in the region.
If approved, this barrier removal would pave the way for Tesla to expand its use of full self-driving autopilot in China, which could significantly impact its growth prospects in the region. This visit from Elon Musk to China is expected to strengthen Tesla’s presence in the Chinese electric vehicle market at a critical moment, as it faces increasing competition from local manufacturers with advanced autonomous driving technology.