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Source: Musk to visit China this week

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Source: Musk to visit <a data-ail="1046950" target="_blank" href="https://www.breakinglatest.news/tag/china/" >China</a> this week


Reuters quoted people familiar with the matter as reporting that Tesla CEO Elon Musk will visit China this week. This will be Musk’s first visit to China in three years.

(Deutsche Welle Chinese Network) Reuters quoted three people familiar with the matter as reporting that Tesla CEO Elon Musk will visit China this week. Tesla Chief Executive Elon Musk is expected to meet with senior Chinese officials and tour Tesla’s factory in Shanghai, two of the sources told Reuters.

It is unclear who Musk will meet with and what will be discussed. The sources declined to be named because the matter is private.

Tesla and China‘s State Council Information Office did not immediately respond to Reuters’ requests for comment.

Reuters reported in March that Musk planned to visit China and seek a meeting with Chinese Premier Li Qiang, possibly as early as April, depending on Li Qiang’s schedule.

The visit will be Musk’s first in China since he danced at an event at Tesla’s Shanghai factory in early 2020 and caused an internet sensation.

Tesla’s Shanghai factory is the electric carmaker’s largest production base

Tesla is currently facing a number of problems, including increasing competition with Chinese automakers amid weak demand in the Chinese market.

Tesla has also not provided any updates on plans to increase annual production of 450,000 vehicles at the Shanghai plant. Tesla has submitted an application to the local government, planning to increase the annual production capacity of the Shanghai plant from 1.25 million to 1.75 million. In addition, the company also said in April that it will build a factory in Shanghai to produce ultra-large commercial energy storage batteries (Megapack).

However, China‘s National Development and Reform Commission, which has been grappling with overcapacity in the auto industry, has been cautious about approving new capacity.

“There are some constraints on our ability to expand in China,” Musk told CNBC television earlier this month. “It’s not a demand issue,” he added.

He also said in the same interview that tensions between the United States and China “should be on everyone’s mind.”

Tesla is building a factory in Mexico that is expected to produce a low-cost electric car based on its next-generation platform.


Economic aspect |


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