The Telsa CEO’s unannounced visits come as Chinese language automakers are selling rival fashions on the Beijing Motor Present.
Tesla CEO Elon Musk met with China’s No. 2 official on an unannounced go to to Beijing.
Musk’s assembly with Chinese language Premier Li Qiang comes as Chinese language automakers are selling their newest electrical autos on the Beijing Auto Present from April 25 to Could 5.
Throughout their assembly on Sunday, Li informed Musk that he hoped america would have interaction with China in win-win cooperation, citing Tesla’s operations in China as a profitable instance of working collectively, Chinese language state media reported. .
“China’s large-scale market will all the time be open to foreign-funded corporations,” Li stated.
“China will preserve its phrase and proceed to work onerous to broaden market entry and strengthen service ensures.”
Musk stated in a submit on X that he was “honored” to satisfy the No. 2 official.
“We have recognized one another for a few years, for the reason that early days of Shanghai,” Musk stated.
Musk’s go to was not introduced prematurely and it’s unclear whether or not his itinerary would possibly embody a go to to the Beijing auto present, the place Chinese language automakers are exhibiting off electrical autos that compete instantly with Tesla fashions.
The billionaire businessman’s journey comes simply over every week after he canceled a scheduled go to to India to satisfy Prime Minister Narendra Modi attributable to “very heavy obligations with Tesla.”
Tesla operates its largest manufacturing plant outdoors america in Shanghai, the place about half of its autos are produced.
The electrical automotive maker has been battling sluggish gross sales, partly attributable to fierce competitors from Chinese language manufacturers.
Tesla’s automobile deliveries fell 8.5 % within the first quarter, contributing to a 40 % drop in its inventory value since July.
Final week, the corporate reported first-quarter earnings of $1.1 billion, up from $2.51 billion a 12 months in the past.
Earlier this month, Musk informed employees in a memo that the corporate would lay off greater than 10 % of its international workforce to be “lean, progressive and hungry for the following development section cycle.”
Chinese language auto large BYD dethroned Tesla because the world’s largest electrical automobile maker within the closing three months of 2023, though the Austin, Texas-based firm regained the title within the first quarter of this 12 months.
Musk has made a number of journeys to China in recent times, concluding his most up-to-date go to in June of final 12 months.
