Apr 29, 2024,02:09am EDT
SUMMARY According to multiple reports on Monday, Elon Musk, the CEO of Tesla, struck a deal with Chinese search giant Baidu for mapping and navigation services. The meeting was reportedly part of an effort by Musk to convince Chinese authorities to approve Tesla’s driver-assistance technology.
Important Information
According to Bloomberg and Reuters, which cited anonymous sources, Tesla will receive access to Baidu’s mapping and navigation technology as part of the agreement, which will enable the company’s driver assistance feature known as Full-Self Driving.
According to the Reuters story, Tesla will have access to Baidu’s mapping license, which is necessary for automakers to introduce driver-assist or self-driving technologies for use on China’s public roadways.
For their cars to be able to collect vital information on traffic, road signs, and routes, foreign companies must collaborate with local businesses in order to obtain the license.
According to Bloomberg, which cited the China Association of Automobile Manufacturers, Tesla vehicles have also passed the nation’s stringent data security and privacy test, which evaluates how well a vehicle gathers and manages “sensitive personal information.”
The two events coincide with Musk’s trip to China, where he is said to have met with high-ranking officials to secure approval for the introduction of Tesla’s Full Self Driving feature in the nation, despite fierce competition from regional EV manufacturers.
Musk declared on Sunday that he was “honored to meet” Chinese Premier Li Qiang, who is, behind President Xi Jinping, the nation’s most senior leader.
THINGS TO BE Aware Of
It remains to be seen if Tesla’s agreement with Baidu would persuade Chinese authorities to approve the company’s debut of its so-called Full Self Driving service. Despite the name, the feature always requires the supervision of a human driver and does not permit completely autonomous driving. Due to systemic vulnerabilities that have been connected to multiple crashes, 13 of which were deadly, the technology has also been under intense examination in the United States. China has banned Tesla vehicles from accessing military installations, government agency compounds, and state-owned enterprise locations due to worries about the firm’s data collection activities.
TANGENT
Reuters reports that on Monday, Robin Zeng, the chair of Chinese battery company CATL, was spotted at Musk’s Beijing hotel. For Tesla, CATL is a crucial local supplier.
32.26% is the big number. This is the amount that Tesla’s stock price has decreased since the beginning of 2024 due to the firm experiencing a reduction in sales and an unsuccessful introduction of its newest product, the Cybertruck.