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Elon Musk: Tesla ‘would never’ spy on Chinese electric car drivers on behalf of US

Elon Musk: Tesla 'would never' spy on Chinese electric car drivers on behalf of US

FINANCIAL NEWS

Elon Musk: Tesla ‘would never’ spy on Chinese electric car drivers on behalf of US

Climate change and EVs: How will future cars stem global warming?Electric vehicles have become a hot trend. But how much better are they for the environment than standard gas or diesel-powered cars?Just the FAQs, USA TODAYTesla CEO Elon Musk rejected the suggestion that his company’s electric vehicles could be used to spy on people in China.Musk’s comments came after several reports that the Chinese military had banned its members from driving Tesla cars.”There’s a very strong incentive for us to be very confidential with any information,” Musk said Saturday at the China Development Forum, a government conference, according to CNN. “If Tesla used cars to spy in China or anywhere, we will get shut down.”Several outlets, including Reuters, Bloomberg and The Wall Street Journal, have reported on the restrictions, citing anonymous sources.’Golden age of EVs’: Are electric vehicles poised to kill the gasoline engine car?COVID vaccine motivation: Krispy Kreme is giving away free donuts for showing vaccination cardChina, the world’s largest market for new vehicle sales, is a critical source of growth for Tesla. If the country cracks down on Tesla, that would deal a significant blow to the company’s growth prospects.Musk also said the company “would never provide” the U.S. with data collected by its cars in China or anywhere else, according to Wedbush Securities analyst Dan Ives.”We believe this statement (while assumed) was important for Tesla and Musk to make directly to the Chinese and the government in Beijing given the strategic importance of its EV ambitions within China,” Ives wrote in a research note.”With a brewing Cold Tech War between the US and China, Tesla (as well as Apple, semis), remain caught in the crossfire and ultimately Musk needed to draw a clear line in the sand to assuage Beijing around this sensitive issue and make sure this stays a contained issue within China with no more negative ripple effects for Tesla.”Tesla’s shares were up 6% to $694.23 at 1:54 p.m. Monday.Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.


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