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Home»Business»Investing
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Elon Musk Receives Official Commendation for Tesla during Unannounced Visit to China

April 29, 2024No Comments2 Mins Read
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Elon Musk recently made a surprise visit to China to address Tesla’s slumping sales and introduce the carmaker’s self-driving technology in its second-largest market. During his second trip to the country in less than a year, he met with Chinese Premier Li Qiang to seek approval for the Full Self-Driving software and the transfer of data overseas. Progress was made during the two-day trip, and Tesla’s Model 3 and Model Y vehicles passed China’s data security requirements, previously restricting their entry into certain sensitive areas due to data security concerns. Additionally, Tesla reached a partnership with Chinese tech giant Baidu for mapping and navigation functions.

Musk’s visit coincided with the Beijing Auto Show, where global and Chinese EV makers are showcasing their latest models. Tesla has recently implemented aggressive price cuts in major markets, including China, in response to declining sales and increased competition. According to analysts, introducing the FSD software in China and obtaining approval to transfer data collected there abroad would significantly benefit Tesla’s autonomous technology globally. Musk’s trip followed US Secretary of State Antony Blinken’s visit to Beijing as both countries work to stabilize their ties.

Premier Li praised Tesla and its collaboration with China, recognizing the deep economic integration between the two countries. Musk commended Tesla’s Gigafactory in Shanghai, calling it the company’s best-performing factory and expressing willingness to deepen cooperation with China. During his visit, Musk also met with Ren Hongbin, chairman of the China Council for the Promotion of International Trade, to discuss Tesla’s future development in China and strengthen exchanges between American and Chinese business communities.

On social media platforms, Musk shared updates about his meetings with Premier Li and other Chinese officials, expressing gratitude for the opportunity to deepen relationships established over the years. Li, who provided significant support for Tesla in Shanghai, played a key role in enabling the US company to be the sole owner of its factory in the city. Musk first met Li in 2018 when Tesla signed a deal to open a plant in Shanghai, and since then, they have interacted publicly multiple times. The trip to China was seen as pivotal for Tesla’s growth and presence in the Chinese market amid increasing competition and softer demand.

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