Musk says Tesla would be shut down if its cars spied in China, elsewhere

Tesla CEO Elon Musk
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Updated 21 March 2021
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Musk says Tesla would be shut down if its cars spied in China, elsewhere

  • Musk urged greater mutual trust between the world’s two biggest economies

BEIJING: Tesla Inc. Chief Executive Elon Musk said on Saturday his company would be shut down if its cars were used to spy, his first comments on news that China’s military has banned Teslas from its facilities.

“There’s a very strong incentive for us to be very confidential with any information,” Musk told a prominent Chinese forum during a virtual discussion. “If Tesla used cars to spy in China or anywhere, we will get shut down.”

Sources told Reuters on Friday that the Chinese military has banned Tesla cars from entering its complexes, citing security concerns over cameras installed on the vehicles.

Those restrictions surfaced as the top Chinese and US diplomats were holding a contentious meeting in Alaska, the first such in-person interaction since US President Joe Biden took office in January.

Musk urged greater mutual trust between the world’s two biggest economies, in his remarks to the China Development Forum, a high-level business gathering is hosted by a foundation under the State Council.

He was holding a discussion panel with Xue Qikun, a Chinese quantum physicist who heads the Southern University of Science and Technology.

In China, the world’s biggest car market and a key battleground for electric vehicles (EVs), Tesla sold 147,445 vehicles last year, 30 percent of its global total. However, it is facing more competition this year from domestic rivals from Nio Inc. to Geely.

Musk has made several high-profile appearances in China, where Tesla makes as well as sells EVs. In 2019, he discussed Mars and artificial intelligence with Alibaba’s outspoken founder Jack Ma.


Closing Bell: Saudi main index closes in red at 10,947 

Updated 19 February 2026
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Closing Bell: Saudi main index closes in red at 10,947 

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 208.20 points, or 1.87 percent, to close at 10,947.25. 

The total trading turnover of the benchmark index was SR4.80 billion ($1.28 billion), as 14 of the listed stocks advanced, while 253 retreated. 

The MSCI Tadawul Index decreased, down 25.35 points, or 1.69 percent, to close at 1,477.71. 

The Kingdom’s parallel market Nomu lost 217.90 points, or 0.92 percent, to close at 23,404.75. This came as 24 of the listed stocks advanced, while 43 retreated. 

The best-performing stock was Musharaka REIT Fund, with its share price up 2.12 percent to SR4.34. 

Other top performers included Al Hassan Ghazi Ibrahim Shaker Co., which saw its share price rise by 1.18 percent to SR17.20, and Saudi Industrial Export Co., which saw a 0.8 percent increase to SR2.51. 

On the downside, Abdullah Saad Mohammed Abo Moati for Bookstores Co. was among the day’s biggest decliners, with its share price falling 9.3 percent to SR39. 

National Medical Care Co. fell 8.98 percent to SR128.80, while National Co. for Learning and Education declined 6.35 percent to SR116.50. 

On the announcements front, Red Sea International said its subsidiary, the Fundamental Installation for Electric Work Co., has entered into a framework agreement with King Salman International Airport Development Co. 

In a Tadawul statement, the company noted that the agreement establishes the general terms and conditions for the execution of enabling works at the King Salman International Airport project in Riyadh.  

Under the 48-month contract, the scope of work includes the supply, installation, testing, and commissioning of all mechanical, electrical, and plumbing systems.  

Utilizing a re-measurement model, specific work orders will be issued on a call-off basis, with the final contract value to be determined upon the completion and measurement of actual quantities executed.  

The financial impact of this collaboration is expected to begin reflecting on the company’s statements starting in the first quarter of 2026, the statement said. 

The company’s share price reached SR23.05, marking a 2.45 percent decrease on the main market.