Asian Tech Press (Sep 17) -- Tesla CEO Elon Musk praised Chinese automakers as the "most competitive in the world" in an online speech Friday.

Musk revealed Friday in a pre-recorded video presentation at the 2021 World New Energy Vehicle Congress, which has been taken place in the southern Chinese island of Hainan, that Tesla is working on a chip for training artificial-intelligence models that is in its first phase and continues to develop advanced driver-assistance systems (ADAS) based on vision and neural networks.

The American billionaire delivered a compliment to Chinese automakers in the speech. He said that China is the most competitive and fastest growing market in the world, and he personally respects the automakers that are driving the development of new energy vehicle technology, and that these companies are very competitive, especially in software design.

He even praised Chinese automakers as the "most competitive in the world."

Musk also said that Tesla is continuing its efforts to reduce the cost of vehicles and improve production efficiency to accelerate the popularity of electric vehicles.

Talking about data security in the era of smart cars, Musk believes that data security is the responsibility of automotive companies and the cornerstone of the development of the automotive industry. And he claimed that Tesla values the data security of users and vehicles, and is currently actively cooperating with governments to ensure data security.