Tesla Endorses Chinese Auto Industry Calibration Under New Rules: Reuters

Tesla Inc TSLA has extended support via Weibo Corp WB to standardize the Chinese auto industry based on the country’s cyberspace administration’s draft rules on auto data regulation Reuters reports.
The automakers will require customer approval for data collection from driving and regulatory permission for providing essential and private data to foreign entities under the rules.
The cyberspace administration has sought public opinion on the rules.
The control of use, sending, and storage of the images captured by vehicle cameras and sensors pose a challenge for the global auto industry and regulators.
In March, the Chinese government prohibited Tesla vehicles’ access to the military, state-owned enterprises in sensitive sectors, and critical agencies over national security concerns.
Price action: TSLA shares traded lower by 2.43% at $602.19 on the last check Wednesday.