- July 8, 2021
- Posted by: Stratford Team
- Category: Business
Rep. Dan Meuser, R-Penn., on the impacts of China’s crackdown on technology.
China’s crackdown on its premiere ride-hailing platform, Didi Global Inc., should serve as a warning to other firms such as Tesla, analysts say.
“The regulations around autonomous driving in China should get stricter over time and may present some increasing challenges to foreign automakers in the years ahead,” Morgan Stanley analyst Adam Jonas wrote in a note Tuesday. Jonas warned that Tesla could face similar issues in China, given its mapping and artificial intelligence technology.
Just days after Didi’s initial public offering in the U.S., Chinese Communist Party regulators cut off the firm’s ability to sign on new users and then followed up by having it booted from app stores over alleged cybersecurity concerns. The government’s moves kicked the legs out from under Didi’s Wall Street debut, sending the firm’s share price into a downward spiral and sparking lawsuits…