China’s industry minister met Tesla Ltd CEO Elon Musk on Wednesday and the two discussed the development of electric and “intelligent networked” vehicles, the ministry said. Premier Li Qiang, the top economic official, traveled to China this year after lifting anti-virus controls that blocked most travel into the country.
The ruling Communist Party is trying to revive investor interest in China’s slowing economy and reassure companies that have been hit by anti-monopoly and data-security crackdowns, raids on consulting firms, US-Chinese political tensions and rulings. are under pressure to align their plans with the Party’s industry and economic development goals.
Industry minister Jin Zhuanglong and Musk “exchanged views on the development of new energy vehicles and intelligent networked vehicles,” the Ministry of Industry and Information Technology said on its website. Its one-sentence statement gave no details.
Tesla CEO Elon Musk gets into a Tesla car as he leaves a hotel in Beijing. (Reuters)
China accounts for half of global electric vehicle sales and is the location of Tesla’s first factory outside the United States. On Tuesday, Foreign Minister Qin Gang told Musk that China would “promote an incredibly high-level of openness” and create a “market-oriented, law-based and international business environment,” according to a government statement. “China’s development is an opportunity for the world,” the statement said.
Li, the premier, delivered a similar message of reassurance in March at meetings with Apple CEO Tim Cook, Pfizer’s Albert Bourla, Rio Tinto’s Jakob Stosholm and Hitachi’s Toshiaki Higashihara. Qin told Musk that China’s EV market “has great development potential,” according to the ministry’s statement.
Tesla opened the first wholly foreign-owned auto factory in China in 2019 after Beijing eased ownership restrictions to increase competition and spur industry development.
The Chinese statement cited Musk as saying that Tesla was ready to expand its business in China and “opposes decoupling,” a reference to fears the world could be split into multiple markets with incompatible products. .
Tesla did not respond to emailed requests for information on Musk’s visit to China. Musk is also the majority owner of the social media platform Twitter, access to which is blocked in China by the ruling party’s internet filters.
First published date: May 31, 2023, 15:17 PM IST
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