Tesla Chief Executive Elon Musk is scheduled to visit China later this week, his first visit to the world’s largest electric vehicle market in three years. The focus is expected to be on EV companies with factories in Shanghai, especially since Tesla officials in India recently reportedly discussed the possibility of building a factory there.
China is as critical to Tesla as it is to most global automakers. The Shanghai factory opened in 2019 and is Tesla’s first overseas factory. During his upcoming visit, Musk is expected to hold talks with senior Chinese government officials.
Musk is also reportedly expected to visit Tesla’s Shanghai factory, but the exact purpose of the visit and the circumstances under which he may meet with Chinese officials are unclear. But in the face of growing competition between global and domestic players, Musk may look more closely at how to address emerging challenges.
Also read: As the internal combustion engine era draws to a close, here’s how China is preparing to dominate EVs
Slowing demand for electric vehicles also hangs in the dark cloud, with the Chinese government now hoping to encourage rural buyers to switch to electric vehicles. Local governments are being urged to offer incentives not only to buyers, but also to those who install charging infrastructure. While a local EV maker may have a better ability to penetrate and penetrate the hinterland, it could also be fertile ground for global brands like Tesla.
First published date: May 30, 2023 at 09:33 AM CST
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