The CEO of Tesla Elon Musk is expected to visit China this week, people close to the world’s richest man said, making his first visit to the country in three years.
Musk is expected to meet high-ranking Chinese officials and visit its factory Tesla in Shanghai, two of the sources said.
It was not immediately clear who Musk will meet and what he will discuss with them. People with knowledge of his visit declined to be named, citing privacy concerns.
Tesla and his Office State Information Council of China did not immediately respond for comment.
The Reuters agency had broadcast him March that Mask plans to visit China and how he seeks to meet with the Chinese Prime Minister Li Yang in early April, with the exact date of the meeting depending on Lee’s availability.
China is Tesla’s second largest market after the United States and its Shanghai factory is the largest automaker producing electric cars.
Musk also owns the social media platform Twitter, which is banned in China, although some citizens have access through virtual private networks (VPNs), the Athenian-Macedonian News Agency reports.
This trip will be his first Mask in China since he made the internet go wild by dancing on stage during an event at the Tesla factory in Shanghai in early 2020.
It will also take place at a time when the Tesla deals with multiple issues, including intensifying competition with Chinese automakers exporting their own electric cars as demand in the world’s biggest auto market weakens.
THE Tesla so far it has not made any update on its plans to increase production to 450,000 cars per year at its factory in Shanghaialthough it had said in April that it might build a factory in Shanghai that would make batteries Megapack.
The company has submitted plans to the local Chinese authorities to expand powertrain manufacturing capabilities at its Shanghai plant that will amount to 1.7 million units per year.
China’s state-owned automaker is grappling with overcapacity in its more than 100-player auto industry and is wary of approving new production capacity.
THE Mask had stated in CNBC earlier this month that “there are some limitations to our ability to expand” adding that “it’s not a question of demand.”
In the same interview, Mr Mask said tensions between the United States and China “should worry everyone.”
Tesla is building a factory in Mexico which is expected to produce a lower-cost electric car based on its next-generation car platform.
Source: News Beast
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