Elon Musk visits China’s commerce and business ministries By Reuters


© Reuters. Tesla Chief Government Officer Elon Musk will get in a Tesla automotive as he leaves a resort in Beijing, China Could 31, 2023. REUTERS/Tingshu Wang


By Martin Quin Pollard

BEIJING (Reuters) -Tesla Inc CEO Elon Musk kicked off his second day in China with visits to the nation’s commerce ministry and business ministry.

Musk left his resort on Wednesday morning accompanied by Grace Tao, Tesla (NASDAQ:)’s China-based public affairs chief and Tom Zhu, head of world manufacturing.

On the commerce ministry, he was despatched off with a handshake from the minister Wang Wentao. He subsequent visited the Ministry of Trade and Info which has regulatory oversight of the automotive business.

Tesla and the ministries didn’t instantly reply to a request for touch upon discussions with Musk.

Musk’s first go to to China in three years comes as Tesla faces intensifying competitors from Chinese language-made electrical autos and a few uncertainty about growth plans for the Shanghai plant.

The manufacturing unit produced over 700,000 Mannequin Y and Mannequin 3 autos final 12 months, greater than half of the corporate’s international output.

One other space of curiosity for traders is whether or not China regulators will clear the discharge of Tesla’s superior driver help options. The options can be found in the US as a part of the “Full Self Driving” software program it sells for $15,000 per car.

A day earlier, Musk met with Chinese language Overseas Minister Qin Gang. He additionally had dinner with Zeng Yuqun, chairman of CATL, the Chinese language battery large and a key Tesla provider, on Tuesday night, in keeping with a supply and pictures shared on social media.     CATL didn’t reply to requests for remark.

Musk is anticipated to fulfill different senior Chinese language officers and go to the Shanghai plant later within the week, sources have mentioned, although it was not clear who precisely he would meet or what points they’d focus on.

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