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  • Tesla CEO Elon Musk making a surprise visit to Beijing as the company's China's vehicles, those vehicles passing the country's data security requirements.

  • We're gonna get straight over to Eunice Yoon who joins us with the latest.

  • The stock, we should just mention, has already made a move premarket up about 8% on the back of the news that Unice is about to bring us, Eunice.

  • Thanks, Andrew.

  • Yeah, not surprising to hear that because it looks as though Musk had a very productive trip here in China.

  • After arriving in Beijing on Sunday, he met with Chinese leaders and then soon after,

  • Tesla flagged that the company had been approved by Beijing, at least in terms of its new data security regulations, saying that it is compliant.

  • This is in terms of collection as well as data storage, and that Tesla is the only foreign-invested firm listed as compliant.

  • Now the notice also said that local governments that had put restrictions on where Tesla cars were allowed to go were lifting those restrictions.

  • And then, like I said, Musk met with Chinese leaders and that included the premier.

  • Musk's China VP said on social media that the two discussed AI as well as autonomous driving as key to the future for EVs.

  • The numerous reports that we've been seeing now say that Tesla is getting close or has already gotten a tent of nod from Beijing for its full self-driving or driver assistance software for Beijing,

  • and of course, larger China, and that the Chinese Tech Giant Baidu would be the one providing the mapping data.

  • Now, Baidu and Tesla are not commenting on that.

  • Reuters is also reporting that one of Musk's goals is to be able to get approval from Beijing to allow for that data that's being collected here to be transferred overseas and then used to train the algorithms for autonomous driving back home.

  • And so, in that way, using the technology here and then, of course, making it more broadly available around the world, guys.

  • Okay, Eunice Yoon.

  • By the way, before we let you go, what is the reaction in China to Elon Musk and Tesla?

  • How is he viewed there right now?

  • Just from a population standpoint, people love him. - Yeah.

  • I mean, it's just on social media, people been talking all about him. I mean, a lot of people talk about how successful he's been.

  • And then, of course, there's the state media reaction, which is also really, clapping their hands, saying that he's great.

  • In fact, one thing that was kind of ironic was that state media has been using him as an example,

  • saying that because he's so successful here and he's so committed to China, that this only dismisses and proves that the criticism that the US has and that the West has of China's quote overcapacity is overhyped. - Right.

  • So in that way, he just gets a lot of attention when he comes here.

  • Eunice, before we let you go. I was worried when I first saw the headline that he was going to China, I thought could this be a moment of retribution from China given all of the issues around TikTok and how that's squarely in the news.

  • Was there concern that that might impact things? And has that become a real cloud over the US?

  • You know, it probably isn't as much of a cloud as one might think, at least based on the reaction that we saw from Secretary of State Anthony Blinken's visit with President Xi, because Blinken said that TikTok didn't even come up in their conversations.

  • And by doing so, I thought that really sent a message that China isn't as concerned about TikTok and that this is going to be at least worthy of posing creating more tensions with the United States.

  • But in terms of the way that it's positioned and marketed, I mean, there's always this kind of boilerplate criticism of the US and that the US market is closed off, unlike the Chinese market, which the Chinese say is very open.

Tesla CEO Elon Musk making a surprise visit to Beijing as the company's China's vehicles, those vehicles passing the country's data security requirements.

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