Elon Musk Starts Crucial China Journey

Elon Musk from Tesla is in China for an important visit. He's meeting the country's foreign minister in Beijing. This is his first time back at Tesla's biggest production center in three years.

Top US CEOs are returning to China as the country has reopened its borders and reversed its zero-COVID policy in December. Apple's Tim Cook visited in March, and now JP Morgan's Jamie Dimon and Starbucks's Laxman Narasimhan are also in China this week. The latest trip started on Tuesday.

After landing in Beijing, Musk met Chinese Foreign Minister Qin Gang.

Qin talked to Musk about enhancing the business environment for investors in China, involving Tesla. Qin compared the relationship between China and the US to a driving metaphor. Qin works for the ministry and this statement came from them.

Qin said we should brake on time, avoid risky driving, and be good at using the accelerator for team work.

Musk said he wants to grow business in China. He doesn't want the US and China to separate economies. The foreign ministry shared this statement. Musk called the two economies "conjoined twins."

The relationship between the US and China is very strained due to a recent event in which a Chinese balloon suspected of spying was shot down by the US. Additionally, the US has warned China not to provide weaponry to Russia in their war against Ukraine. Problems regarding Taiwan, trading, and human rights add to the tension. Despite both the US and Chinese defence ministers being in Singapore this weekend, China has declined a meeting request from the US defence secretary.

Qin told Musk to stay respectful, peaceful and cooperative, as per a statement from the ministry. The steering wheel must be in the right direction.

Qin said both sides should not drive dangerously. He did not say how to make things better.

Musk visited China. The ruling Communist Party wants to boost investor interest in the economy. Foreign companies feel nervous due to raids on consulting firms and tensions with Washington.

No response from Tesla when asked about Musk's visit to China, where he met with Qin. China is an important market for Tesla, second only to the US. Specifics about Musk's trip are unknown.

Musk, owner of Twitter, didn't tweet after going to China since Twitter is banned there. However, some people can still access it through a virtual private network. Musk didn't post on his Weibo account either.

On Monday, Reuters reported that he may visit Tesla's Shanghai plant and meet some senior Chinese officials, but it is unclear who he will meet or what they will talk about.

On Tuesday, a person familiar with the issue said that Zeng Yuqun, the boss of CATL and Tesla's important supplier, was going to have a meeting in Beijing. CATL didn't make any remarks in response.

Musk went to China in 2019 and met with Premier Li Keqiang. He was seen dancing on stage at Tesla's Shanghai factory opening the following year, which caused excitement on Chinese social media.

Chinese electric vehicles are giving Tesla tough competition. The Shanghai plant, which is Tesla's biggest production center, faces uncertainty about its expansion plans.

Investors in Tesla are asking if they will increase production in Shanghai. They want to know by how much.

Daniel Ives, an analyst at investment firm Wedbush, predicts that Tesla will intensely prioritize expanding its presence in China.

China's electric vehicle (EV) market is the largest in the world. It is facing tough competition, but still making lots of money. It's like a golden goose, which keeps laying eggs of profit.

In a note for investors, he called Tesla's Shanghai plant "the heart and lungs" of the company's global production.

Investors are worried about China's regulators. They are not sure if they will allow Tesla to release their advanced driver assistance features in China. These features are available in the US with the "Full Self-Driving" software which costs $15,000 per vehicle.

Chinese researchers are interested and worried about Elon Musk's space company SpaceX and its Starlink satellite network's military applications. This has been since Russia invaded Ukraine.

Chinese government-owned firms are working quickly to join Starlink in orbiting their own communication satellites in low-Earth. Chinese military researchers are analyzing Starlink as a technology that could be a danger, as cited in a review by Reuters.

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