Elon Musk in China: Tesla CEO Meets with Foreign Minister, Touts Expansion | #ElonMusk #China #Tesla #ElectricVehicles #Business
Tesla CEO Elon Musk met with China's foreign minister Qin Gang on Tuesday, as he made his first trip to the world's second largest economy in over three years. The meeting comes amid tensions between the US and China, but Musk said he was committed to expanding Tesla's business in the country.
"Tesla opposes 'decoupling' and is willing to continue to expand its business in China," Musk said in a statement released by the Chinese foreign ministry. He also praised the Chinese people and China's achievements, saying that the country has "broad prospects for development."
China is Tesla's second-largest market after the United States. The company's Shanghai factory, which opened in 2019, is its largest production facility outside of the US. Tesla sold over 350,000 vehicles in China last year, accounting for over half of the company's global sales.
Musk's meeting with Qin Gang comes as Tesla is facing increasing competition in China from local automakers. Chinese electric vehicle maker BYD overtook Tesla as the world's leading electric vehicle maker in 2022.
Despite the competition, Musk said he is confident that Tesla will continue to grow in China. "We are very excited about the future of Tesla in China," he said. "We believe that China will continue to be a major market for electric vehicles."
Tesla's expansion plans in China are likely to be welcomed by the Chinese government. The government has been promoting the development of electric vehicles as part of its efforts to reduce air pollution. China has set a goal of having 100 million electric vehicles on its roads by 2030.
Musk's visit to China is a sign of the company's commitment to the Chinese market. Tesla is likely to continue to invest in China in the years to come.
