Elon Musk has landed in Beijing in what is the billionaire’s first visit to China in three years, and held a meeting with the nation’s Foreign Minister Qin Gang.
The chief executive officer of Tesla Inc. said he is willing to boost the electric carmaker’s business in China, according to a government statement late Tuesday.
Qin also told Musk that China’s market for new energy vehicles has broad prospects for development and the country is committed to developing a good business environment for companies from various countries. Referring to US-China ties, Qin said that it’s important to “get the steering wheel right” and “step on the brakes” in time to avoid “dangerous driving.”
Musk is also expected to visit Tesla Inc.’s Shanghai factory, people familiar with the matter said, asking not to be identified because the information is private. He will potentially meet Premier Li Qiang as well to discuss automated-driving technology that Tesla is seeking to introduce in China, one of the people said.
Ministry of Foreign Affairs spokeswoman Mao Ning earlier Tuesday welcomed Musk and other business leaders, saying “we would like to see foreign investors operating in China, exploring the Chinese market and sharing in the dividends of the development of China.”
Tesla didn’t immediately respond to a request for comment. Representatives from Shanghai’s government press office and the State Council Information Office of China also didn’t immediately respond to a request for comment.
Bloomberg reported earlier this month that Tesla is nearing the final stages before starting trial production of its revamped Model 3 sedan in Shanghai, which Musk is betting will compete more effectively with Chinese rivals. The revised version is slightly longer than the earlier version, is sportier and has a sleeker interior design.
Tesla’s Shanghai plant accounted for more than half its global production in 2022, and the facility can now produce as many as 1.1 million cars a year. Shipments from Tesla’s Shanghai facility dropped in April, a sign consumers may be casting around for other electric vehicles as manufacturers across the country drop their prices.
The US automaker contributed almost one-quarter of Shanghai’s total automotive production value last year, and local authorities pledged earlier this month to continue to boost ties with the company through autonomous driving and robot modules.
--With assistance from Harry Suhartono and James Mayger.
(Updates with Qin Gang comments from second paragraph.)
