Tesla's Self-Driving Tech Progresses After Musk's Beijing Visit

Elon Musk's recent visit to Beijing has marked significant progress for Tesla's advancements in self-driving technology, as reported by Reuters. The trip yielded crucial endorsements and regulatory approvals essential for implementing Tesla's advanced driver-assistance package in China.

Musk's unanticipated arrival in the Chinese capital aimed to address the deployment of Tesla's “Level 2” Full Self-Driving (FSD) software and the necessary permissions for data-transfer, according to insider sources. Among the achievements during Musk's visit was a vital endorsement from a prominent Chinese auto association, confirming the compliance of Tesla's Model 3 and Y vehicles with data-security regulations.

One of the pivotal agreements involves a collaboration with Baidu, a leading Chinese tech company, to leverage its mapping license for data collection on China's public roads, a critical milestone for the FSD rollout in the country.

During his meetings in Beijing, Musk received praise from Chinese Premier Li Qiang, underscoring Tesla's developmental strides in China. However, the crucial question remains unanswered: whether Tesla can secure government approvals for overseas data transfer, vital for its FSD plans in China and globally.

Chinese regulators' stipulations mandate Tesla to store all data collected by its Chinese fleet within the country, posing a challenge for the company's global autonomous driving aspirations. Despite these hurdles, Tesla's recent advancements underscore its unwavering dedication to advancing self-driving technology.

Following the announcement of these developments, Tesla's stock surged by 16%, translating to an added US$90 billion in market value for the company.