Tesla founder Musk meets Chinese Premier as competitors show off new EVs
28 April 2024, 18:04
Li Qiang told Elon Musk he hopes the US will work more with China on ‘win-win’ cooperation.
Tesla founder and chief executive Elon Musk has met the Chinese Premier in Beijing, just as the nation’s carmakers are showing off their latest electric vehicle models at the capital’s auto show.
Li Qiang told Mr Musk that he hopes the US will work more with China on “win-win” cooperation, citing Tesla’s operations in China as a successful example of economic cooperation, China’s state broadcaster CCTV said on its main evening news programme.
For China, Mr Musk is a welcome antidote to the tough talk from US officials, which played out most recently during a visit by secretary of state Antony Blinken.
Mr Li’s remarks also reflect China’s efforts to attract foreign investment to boost its flagging economy.
It was not clear whether Musk would visit the auto show, which runs through this week.
Chinese carmakers and start-ups have launched several electric cars in recent years, some going head-to-head with Tesla and undercutting the American maker on price.
Honored to meet with Premier Li Qiang.
We have known each other now for many years, since early Shanghai days. pic.twitter.com/JCnv6MbZ6W
— Elon Musk (@elonmusk) April 28, 2024
An earlier CCTV online report said that Mr Musk had come at the invitation of the China Council for the Promotion of International Trade and met with its president, Ren Hongbin, to exchange views on further cooperation and other topics.
Tesla has a major manufacturing base in Shanghai for both domestic sales in China and exports to Europe and other regions.
It cut prices in China a week ago, following similar reductions in the US.
Tesla has a major manufacturing base in Shanghai for both domestic sales in China and exports to Europe and other regions. It cut prices in China a week ago, following similar reductions in the US.
The European Union has launched an investigation into Chinese subsidies for the EV industry that could lead to tariffs on electric vehicles made in China, potentially including Tesla cars.
The green energy subsidies have helped transform the Chinese auto market, with EVs reaching about a quarter of new car sales last year, eating into demand for petrol-powered vehicles.
Foreign carmakers such as Volkswagen and Nissan are scrambling to develop new EV models to hold onto or claw back market share in China, the world’s largest automobile market.
