Elon Musk Discusses “Intelligent Networked Vehicles” During Visit to China

Tesla CEO Elon Musk recently held discussions with top Chinese officials to explore the development of electric and “intelligent networked” vehicles, along with the expansion of Tesla’s operations within China. Musk’s visit to China, his first in over three years, included meetings with Commerce Minister Wang Wentao and Industry Minister Jin Zhuanglong.

During his meeting with Commerce Minister Wang Wentao, Musk commended “the vitality and potential of China’s development.” He expressed full confidence in the Chinese market and showed a willingness to deepen mutually beneficial cooperation. Musk emphasized that China-US relations should not be viewed as a zero-sum game, emphasizing the importance of collaboration.

China currently accounts for half of the global electric vehicle sales and hosts Tesla’s first foreign-owned car factory established in 2019. This factory was established after Beijing relaxed ownership restrictions to foster competition and expedite industry growth.

In a separate meeting, Musk and Industry Minister Jin Zhuanglong exchanged views on the development of new energy vehicles and intelligent networked vehicles. Tesla expressed its interest in expanding its business in China and underscored its opposition to the concept of “decoupling,” which implies a division of markets with incompatible products.

It’s worth noting that Elon Musk, in addition to his role at Tesla, is also the majority owner of the social media platform Twitter, which is currently inaccessible in China due to internet censorship imposed by the ruling Communist Party.

Musk’s visit is part of a series of meetings between CEOs of global companies, including Apple Inc., with Chinese cabinet officials and Premier Li Qiang. These interactions come as China seeks to boost investor confidence in its economy, address concerns about anti-monopoly regulations and data security measures, and alleviate worries stemming from geopolitical tensions between the US and China.

Foreign Minister Qin Gang assured Musk of China’s commitment to promoting high-level opening-up and creating a business environment characterized by market orientation, adherence to the rule of law, and internationalization.

In a broader context, Jamie Dimon, CEO of JPMorgan Chase & Co., commented on the disputes between Beijing and Washington, asserting that these issues are “resolvable.” Dimon emphasized the need for meaningful engagement and dialogue between the two countries to address security and trade-related concerns. He advocated for “de-risking” rather than “decoupling” and stressed the importance of constructive communication to foster stronger US-China relations.

Dimon’s remarks came during the JPMorgan Global China Summit in Shanghai, marking his first visit to China since his controversial statement in 2021. He expressed a desire for a more positive and cooperative approach to US-China relations, highlighting the role of high-level officials in promoting such engagement.

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