Elon Musk Starts Crucial China Visit For Tesla

Elon Musk is in China. He’s the CEO of Tesla. Today, he met with the foreign minister in Beijing. He hasn’t been back to his biggest production hub for three years. It’s a very important visit.

A CEO from the US went to China on Tuesday. China reopened its borders in December. They also changed their zero-COVID policy. This is the latest visit by a top CEO to China. Tim Cook from Apple went there in March. Jamie Dimon from JP Morgan and Laxman Narasimhan from Starbucks are in China too. They're there this week.

Musk talked to Qin Gang after arriving in Beijing.

Qin talked to Musk. Qin said China wants to make things better for investors, like Tesla. Qin used a metaphor about driving to talk about China-US relations. Qin's ministry released a statement about it.

Qin said we need to use the brake on time. We should not drive dangerously. We should use the accelerator skillfully. This will help us cooperate and benefit each other.

The foreign ministry said that Musk wants to grow his business in China. He thinks it's not a good idea to separate the US and China economies. He says that the two economies are like "conjoined twins".

Tensions are high between the US and China. The US shot down a Chinese balloon that they thought was spying. The US warned China not to give weapons to Russia for the war in Ukraine. Problems with Taiwan, trade, and human rights are still problems. China said no to a meeting between their defence minister and the US defence secretary. Both will be in Singapore soon.

Qin said to Musk that we must keep steering towards mutual respect, peaceful coexistence, and win-win cooperation. The statement was from the ministry.

Qin said both sides should avoid dangerous driving, but he didn't mention any specific measures to improve their relationship.

Musk visited China recently. This happened while the Communist Party is trying to boost the economy. Foreign businesses are worried because consulting firms have been raided. China and the US have tense relations.

Tesla didn't reply when asked about Musk's trip and activities in China with Qin. China is an important market for Tesla, next to the US.

When Musk went to China, he didn't post anything on Twitter or his official Weibo account. China blocks Twitter, but some people use a VPN to access it.

Reuters said on Monday that he will meet with other high-ranking Chinese officials and tour Tesla's Shanghai facility on his visit. It is unknown who he will meet or what topics will be discussed.

On Tuesday, someone who knows about this revealed that a meeting with the boss of CATL and Tesla's main supplier, Zeng Yuqun, was set to happen in Beijing. CATL hasn't said anything about this yet.

Musk went to China in 2019 and met with Li Keqiang. In 2020, he danced on stage at the opening ceremony for Tesla's Shanghai factory and people in China talked about it on social media.

Chinese electric vehicle makers are now competing more fiercely with Tesla. Tesla's biggest production facility in Shanghai also faces uncertainty regarding its expansion plans.

Investors interested in Tesla are unsure if the electric car maker will boost production in Shanghai, and if so, by how much.

Tesla plans to expand rapidly in China, according to Wedbush analyst Daniel Ives. He believes that the company will make a concerted effort to increase its presence in the country.

China’s electric vehicle (EV) market is big and profitable even with competition. It is known as the “golden goose EV market”.

In a message to investors, he said Tesla's Shanghai factory is extremely important. He called it the "heart and lungs" of the company's global production.

Investors are worried about China regulators approving Tesla's advanced driver assistance features. These features are sold for $15,000 per vehicle under the "Full Self-Driving" software in the US.

Chinese researchers have been keeping an eye on SpaceX and its Starlink satellite network. They are interested in the military applications of it. This interest grew after Russia invaded Ukraine. There are also some concerns.

Chinese state-owned companies are trying to copy Starlink by launching their own satellite network. The Chinese military is keeping an eye on Starlink as a possible threat, as shown in research reviewed by Reuters.

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