Asia Tech Wire (June 7) -- The introduction of Tesla's Full Self-Driving (FSD) system will revitalize China's new energy vehicle industry, said Xinghai Zhang, chairman of Chinese automaker Seres Group.

Speaking during the 2024 China Auto Chongqing Summit on Friday, Zhang commented on the imminent entry of Tesla's FSD system into China.

He said that the introduction of Tesla FSD is not only a challenge to the existing pattern, but also a major opportunity for China's intelligent internet-connected new energy vehicle industry, which will promote the leap from smart driving to autonomous driving of China's intelligent internet-connected new energy automobiles.

Tesla has been trying to bring its FSD to China, and in late May Reuters reported that Tesla China was preparing to file its FSD capability with the authorities in order to push it out this year.

Seres has maintained deep cooperation with Chinese communications giant Huawei in recent years, with the latter not only providing technical support but also deeply involved in all aspects of product design and marketing.

In the first quarter of this year, the automaker turned its net profit positive, ending four consecutive years of losses.

The Wenjie M9, a large luxury SUV jointly created by Seres and Huawei, was the best-selling luxury model in the 500,000 yuan-plus segment with deliveries of 15,875 units in May.