Elon Musk makes surprise visit to China: Here's what to know

THIS COMES AFTER A GOOD WEEK FOR THE MARKETS. >>> MEANWHILE, TESLA CEO ELON MUSK MAKING A SURPRISE VISIT TO BEIJING AS THE CHINA VEHICLES PASSING THE COUNTRY'S DATA SECURITY REQUIREMENTS. LET'S GET TO EUNICE YOON WHO JOINS US WITH THE LATEST THE STOCK HAS MADE A MOVE PRE-MARKET UP 8% ON THE BACK OF THE NEWS THAT EUNICE IS ABOUT TO BRING US EUNICE >> Reporter: THANKS, ANDREW. NOT SURPRISING TO HEAR THAT. IT LOOKS AS THOUGH MUSK HAD A PRODUCTIVE TRIP IN CHINA AFTER ARRIVING IN BEIJING ON SUNDAY. HE MET WITH THE CHINESE LEADERS AND SOON AFTER, TESLA FLAGGED THE COMPANY HAD BEEN APPROVED BY BEIJING AT LEAST IN TERMS OF THE NEW DATA SECURITY REGULATIONS SAYING IT IS COMPLIANT THIS IS IN TERMS OF COLLECTION AS WELL AS DATA STORAGE AND TESLA IS THE ONLY FOREIGN INVESTED FIRM LISTED AS COMPLIANT. LOCAL GOVERNMENTS WHICH PUT RESTRICTIONS ON TESLA CARS WERE LIFTING RESTRICTIONS LIKE I SAID, MUSK MET WITH CHINESE LEADERS. THAT INCLUDED THE PREMIER LI THE TWO DISCUSSED A.I. AS WELL AS AUTONOMOUS DRIVING AS KEY TO THE FUTURE FOR EVs THE NUMEROUS REPORTS WE HAVE BEEN SEEING NOW SAY TESLA IS GETTING CLOSE OR HAS ALREADY GOTTEN A TENTATIVE NOD FROM BEIJING FOR THE FULL SELF DRIVER ASSISTANCE SOFTWARE FOR BEIJING AND THE CHINESE TECH GIANT BAIDU WOULD PROVIDE THE MAPPING DATA BAIDU AND TESLA ARE NOT COMMENTING ON THAT ONE OF MUSK'S GOALS IS TO GET APPROVAL FROM BEIJING TO ALLOW THAT DATA COLLECTED HERE TO BE TRANSFERRED OVERSEAS AND THEN USED TO TRAIN THE ALGORITHMS FOR AUTONOMOUS DRIVING BACK HOME IN THAT WAY, USING THE TECHNOLOGY HERE AND THEN, OF COURSE, MAKING IT MORE BROADLY AVAILABLE AROUND THE WORLD GUYS >> OKAY. EUNICE YOON. BY THE WAY, BEFORE WE LET YOU GO, WHAT IS THE REACTION IN CHINA TO ELON MUSK AND TESLA HOW IS HE VIEWED THERE RIGHT NOW? >> Reporter: JUST FROM A POPULATION STANDPOINT? PEOPLE LOVE HIM. IT'S ON SOCIAL MEDIA WHERE PEOPLE HAVE BEEN TALKING ALL ABOUT HIM. AN LOT OF PEOPLE TALK ABOUT HO SUCCESSFUL HE HAS BEEN THE STATE REACTION WHICH IS REALLY CLAPPING THEIR HANDS SAYING HE'S GREAT. IN FACT, ONE THING THAT WAS IRONIC WAS THE STATE MEDIA WHICH HAS BEEN USING HIM AS AN EXAMPLE SAYING THAT BECAUSE HE'S SO SUCCESSFUL HERE AND COMMITTED TO CHINA AND THIS ONLY DISMISSES AND PROVES THAT THE CRITICISM THAT THE U.S. HAS AND THE WEST HAS OF CHINA'S QUOTE OVERCAPACITY IS OVERHYPED. IN THAT WAY, HE JUST GETS A LOT OF ATTENTION WHEN HE COMES HERE. >> EUNICE, BEFORE WE LET YOU GO. I WAS WORRIED WHEN I SAW THE HEADLINE HE IS GOING TO CHINA, IS THIS A MOMENT OF RETRIBUTION FROM CHINA WITH THE ISSUES OF TIKTOK AND HOW THAT IS SQUARELY IN THE NEWS. HAS THAT BECOME A REAL CLOUD OVER THE U.S.? >> IT PROBABLY ISN'T AS MUCH OF A CLOUD AS ONE MIGHT THINK BASED ON THE REACTION WE SAW FROM SECRETARY OF STATE ANTONY BLINKEN'S VISIT WITH PRESIDENT XI BLINKEN SAID THAT TIKTOK DID NOT COME UP IN THEIR CONVERSATIONS BY DOING SO, I THOUGHT THAT REALLY SENT A MESSAGE THAT CHINA ISN'T AS CONCERNED ABOUT TIKTOK AND THIS IS GOING TO BE WORTHY OF POSING OR CREATING MORE TENSION WITH THE UNITED STATES IN TERMS OF THE WAY THAT IT IS POSITIONED AND MARKETED, THERE IS A BOILERPLATE

Channel: CNBC Television

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Id: NPDKBP2Qlsk

Length: 4min 13sec (253 seconds)

Published: Mon Apr 29 2024