Musk is in China for the Beijing auto show

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BEIJING (AP) — Tesla founder and CEO Elon Musk met with a top government leader in the Chinese capital Sunday, just as the nation’s carmakers are showing off their latest electric vehicle models at the Beijing auto show.
For China, Musk is a welcome antidote to the tough talk from U.S. officials, which played out most recently during a visit by Secretary of State Antony Blinken.
Li’s remarks also reflect China’s efforts to attract foreign investment to boost its flagging economy.
It wasn’t clear whether Musk would visit the auto show, which runs through this week.
Chinese automakers and startups have launched a bevy of electric cars in recent years, some going head-to-head with Tesla and undercutting the American maker on price.
Tesla has a major manufacturing base in Shanghai for both domestic sales in China and exports to Europe and other regions.
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 gasoline-powered vehicles.

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BEIJING (AP) — On Sunday, as the country’s automakers were showcasing their newest electric vehicle models at the Beijing auto show, Tesla founder and CEO Elon Musk met with a senior government official in the Chinese capital.

Premier Li Qiang of China expressed to Musk his hopes that the U. S. will collaborate more with China on “win-win” projects, citing Tesla’s business ventures there as an effective illustration of economic cooperation, China’s official broadcaster CCTV stated during its primary evening news program.

Musk is China’s welcome counterbalance to the tough rhetoric from the U.S. s. officials, a scene that was most recently witnessed by Secretary of State Antony Blinken during his visit. Li’s statements are indicative of China’s endeavors to draw in foreign capital to strengthen its faltering economy.

It was unclear if Musk would attend this week’s auto show, which takes place. A plethora of electric vehicles have been introduced by Chinese automakers and startups in recent years, with some even undercutting the American manufacturer, Tesla, on price.

According to a previous CCTV online report, Musk met with Ren Hongbin, the president of the China Council for the Promotion of International Trade, at the council’s invitation in order to discuss future cooperation and other matters.

For both local sales in China and exports to Europe and other markets, Tesla maintains a sizable manufacturing base in Shanghai. Following comparable price reductions in the U.S., it slashed the Model 3 to 231,900 yuan ($32,700) and the Model Y to 249,900 yuan ($35,200) in China a week ago. S.

Tariffs on Chinese-made electric vehicles, possibly including Tesla models, may result from an investigation the European Union has opened into Chinese subsidies for the EV sector.

The Chinese auto industry has undergone significant change as a result of the green energy subsidies; last year, EV sales made up nearly 25% of all new car sales, which reduced the demand for gasoline-powered cars.

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