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Tesla Works On Getting Customers In China Access To Vehicle Data Amid Regulatory Scrutiny

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Tesla Works On Getting Customers In China Access To Vehicle Data Amid Regulatory Scrutiny

Tesla Inc (NASDAQ: TSLA) will later this year launch a platform for customers in China that will allow them access to data generated by their vehicles, Reuters reported on Thursday.

What Happened: The Elon Musk-led company will be the first automaker to give customers access to such data after regulators recently published draft rules to ensure the security of data generated by smart cars.

Industry and regulators across the world are struggling to ensure data from vehicles, which are equipped with cameras and sensors, remains secure.

Tesla executives have reportedly recently participated in four policy discussions with the watchdogs in China on topics ranging from auto data storage, vehicle-to-infrastructure communication technologies, car recycling and carbon emissions. 

The Elon Musk-led company is also said to be ramping up its government relations team in China to ensure a “harmonious” relationship with the government.

Why It Matters: Tesla has been facing rough weather in China, a market that contributes nearly 30% of the electric vehicle maker's global sales and is its second-largest market after the United States.

The electric vehicle maker had last month assured regulators that data collected from its cars is well protected and is stored in China after Tesla vehicles were banned from military, state-owned enterprises in sensitive industries and critical agencies over national security concerns.

Just last month, the EV maker became a media and regulatory target after a customer at the Shanghai auto show protested an alleged malfunctioning of brakes, the videos of which became viral.

Price Action: Tesla shares closed 0.39% lower at $670.94 on Wednesday and were down 0.66% in after-hours trading.

Read Next: Apple, Tesla Earnings Reports Show An Increasing Reliance On China As A Market

 

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