Sunday, July 14, 2024

Tesla to Increase Investment and R&D in China

BusinessTesla to Increase Investment and R&D in China

At the 2021 World Internet Conference held in Wuzhen, Zhejiang Province on Sunday, Tesla CEO Elon Musk said that Tesla will continue to increase investment and research and development in China in the future.

Musk also said that Tesla is “developing full self-driving vehicles with practical, vision-based artificial intelligence, including chip development on the inference level and on the training level.”

As for data security, Musk said in the video, “Data security is key to the success of an intelligent and networked vehicle.” The success of the industry requires the cooperation of business leaders and regulators. 

He added that Tesla has already established a data center in China, which includes production, sales, service teams in addition to charging stations, all of which will be stored in China. He further explained, “All personally identifiable information is securely stored in China without being transferred overseas. Only in very rare cases is data approved for transfer internationally.”

According to data released by the China Passenger Car Association (CPCA) on Wednesday, Tesla’s sales reached 44,264 domestically produced units in August, up 275% year-on-year. As of August, Tesla has sold more than 250,000 vehicles in 2021, of which domestic sales alone have reached 152,531 units, exceeding the overall sales volume last year.

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