While the Chinese authorities tighten the rules of information security, the president of the Chinese company Xpeng Brian GU competing with Tesla in the car market, said that the manufacturer is located on the “right side of the regulation”. In an interview with CNBC, he said that it cooperates with the government on the issue of collecting and processing data.
Beijing, made a repression against its own giant companies, a pet appeared. Automakers accumulate a huge amount of information to train the autonomous driving algorithms and other so-called “smart” functions in the machines. Chinese authorities increasingly express discontent with the amount of data that companies receive different industries.
“I think our industry will actually be supported by the government. They understand that the auto industry is a critical infrastructure and a critical component of production growth, smart technologies. And also our industry complies with the program for zero carbon emissions that the government is actively pushing “,” Brian GU told.
The development of electrical transport is really in priority in China, which supports the industries by subsidies. While repressions against the business cost Internet companies billions over the past few months, electrocarrov manufacturers cost without significant losses, and prices for their shares were recovered.
Xpeng develops its own autonomous driving system, for learning which is a huge amount of data. GU stated that the new rules for collecting information for automakers were not created to “stop innovation”, and in order to “be sure that the data will be used carefully.”
Chinese competitor Tesla grows dynamically. On August 26, the company announced an income of $ 582.5 million for the second quarter – it is 536.7 percent more compared with the same period of 2020. However, the losses of the company for the quarter have increased significantly due to marketing costs and increase production capacity.
The company is already on the international market. XPeng began delivery to its P7 sedan to Norway. GU stated that Europe will be for the company the first market outside of China.