Robert Besser
03 Jun 2023, 14:54 GMT+10
BEIJING, China: On his return to China after a three year absence, which is his company's largest production hub, Tesla Chief Executive Elon Musk began has b begun his visit with a meeting with Chinese foreign minister Qin Gang in Beijing.
The Chinese foreign ministry said that during their meeting, Qin told Musk that China was committed to improving the business environment for investors, including Tesla.
"We must step on the brake in time, avoid dangerous driving and be skillful at using the accelerator to promote mutually beneficial cooperation," Qin said.
He then quoted Musk as saying he was keen to expand business in China and opposed a decoupling of the American and Chinese economies.
China is Tesla's second-largest electric vehicle market, after the US.
Meanwhile, Reuters has reported that during his trip, Musk will meet other senior Chinese officials and visit Tesla's Shanghai plant, though it was not certain who he would meet or what issues they would discuss.
In March, Reuters reported that Musk had been planning a trip to China and aimed to meet with Chinese Premier Li Qiang.
Tesla faces intensifying competition from Chinese-made electric vehicles, and the expansion plans for Tesla's Shanghai plant are still uncertain.
Tesla's investors have questioned whether and by how much it will increase output in Shanghai, its largest global production site.
In a note to investors, Daniel Ives, analyst at investment firm Wedbush, said Tesla should "aggressively focus on building out its China footprint."
"Despite increasing competition, China's market for electric vehicles, the world's largest, has become the golden goose EV market," he added, noting that Tesla's Shanghai plant is "the heart and lungs" of the company's global production.
Since Russia's invasion of Ukraine, Chinese researchers have monitored Musk's space company, SpaceX, as well as the military applications of its Starlink satellite network, with interest and concern.
Get a daily dose of Greek Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Greek Herald.
More InformationDUBAI, UAE - The bustling real estate market in Dubai has surged to unprecedented heights, reporting transactions valued at over ...
ANKARA, Turkey: During a meeting, Michael Evans, President of the Alibaba Group, told Turkish President Tayyip Erdogan that the Chinese ...
Islamabad [Pakistan], September 25 (ANI): Pakistan's 40 per cent of the population lives below the poverty line, as per the ...
Islamabad [Pakistan], September 24 (ANI): Ahead of the general elections in Pakistan, the World Bank gave a candid warning for ...
ACCRA, ghana - Hundreds of demonstrators gathered in the Ghanaian capital Accra on Saturday for a third day of anti-government ...
Western politicians are so overwhelmed with the feeling of impunity that they forget about self-preservation, Moscow saysWestern politicians are so ...
Ukrainian President Volodymyr Zelenskyy described his visit to the U.S. and Canada this week as "very productive."In his nightly video ...
New York [US], September 25 (ANI): External Affairs Minister S Jaishankar held a meeting with Armenian counterpart Ararat Mirzoyan on ...
Paris [France], September 25 (ANI): French President Emmanuel Macron on Sunday announced that Paris will end its military presence in ...
French troops will depart the west African nation in ?the months to come,? the president saidFrance will pull its military ...
Paris - French President Emmanuel Macron said Sunday, France is imminently to withdraw its ambassador from Niger, followed by the ...
(Photo credit: Jerome Miron-USA TODAY Sports) Marcus Semien hit a pair of solo home runs and the Texas Rangers hit ...