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Elon Musk has consistently compared China to the United States ever since his company set up shop there. He believes China could someday flip the technological development of the US.
Tesla Inc (NASDAQ: TSLA), an electric motor company, owned by one of the world’s richest men, Elon Musk, has had a successful year in China despite the shakedowns executed by the Chinese regulatory authorities. The bumper year facilitated has Tesla’s recent commitment to expanding its operations in the Chinese economy.
Speaking at the World Internet Conference put together by the Cyberspace Administration of China, Tesla’s boss Elon Musk has assured the Chinese government that his electric car platform will continue to up its operations in the country.
Interestingly, Musk’s new praise for the Chinese economy would be the second time he is doing that within this month alone.
The billionaire, in his previous statement, had lauded Chinese automakers for their advanced technology at the World New Energy Vehicle Congress, where he said they are “the most competitive in the world.” He also added that Chinese technology will “shape the future of the automobile industry.”
This second time, he has used the opportunity to show his commitment and support for the fast-rising Chinese economy. The SpaceX founder assured his audience that Tesla will contribute its quota to the economy by further expanding the networks of its operations and investments in investments in the country.
The comment was lifted off a pre-recorded session of questions and answers at the conference hosted by the Cyberspace Administration of China.
While assuring China of his continued support Musk said, “My frank observation is that China spends a lot of resources and efforts applying the latest digital technologies in different industries, including the automobile industry, making China a global leader in digitalization.”
After praising the country for its effort towards making new energy vehicles a reality, he also said, “Tesla will continue to expand our investment and R&D efforts in China.”
Although Musk and his electric car company, Tesla has not had it easy with the authorities in China. The company, after launching its first Shanghai factory two years ago, has faced regulatory concerns and issues about its privacy.
While speaking on China’s reluctance to see its data being stored abroad, he told his listeners that data centers were being built in the country so as to localize all data.
“(Data) generated from our business here, including production, sales, service and charging. All personally identifiable information is security stores in China without being transferred overseas. Only in very rare cases, for example, spare parts orders from overseas is data approved for transfer internationally,” explained he.
Elon Musk has consistently compared China to the United State ever since his company set up shop there. He has gone as far as hailing China’s technological development and believes it could someday flip that of the US.