BEIJING (AP) – Tesla founder and CEO Elon Musk met with top government officials in the Chinese capital on Sunday, just as the Chinese automaker unveiled its latest electric car at the Beijing Auto Show. He was in the middle of showing off a car model.
Chinese state broadcaster CCTV reported on its main evening news program that Chinese Premier Li Qiang told Musk that the United States could “win-win” with China, citing Tesla’s business in China as an example of successful economic cooperation. He said he looks forward to further cooperation with Win.
For China, Mr. Musk is a welcome antidote to the acrimonious talks between U.S. officials that unfolded most recently during Secretary of State Antony Blinken’s visit. Li’s comments also reflect China’s efforts to attract foreign investment to shore up its struggling economy.
It’s unclear whether Musk will attend the car show, which runs through this week. Chinese automakers and startups have launched a slew of electric vehicles in recent years, some competing with Tesla and undercutting U.S. manufacturers on price.
According to a previous CCTV online report, Musk came to Japan at the invitation of the China Council for the Promotion of International Trade, met with the council’s chairman Ren Hongbin, and exchanged views on further cooperation and other topics.
Tesla has its main manufacturing base in Shanghai, selling within China and exporting to Europe and other regions. Following a similar price cut in the U.S., it also cut prices in China a week ago, dropping the Model 3 to 231,900 yuan ($32,700) and the Model Y to 249,900 yuan ($35,200).
The European Union has launched an investigation into subsidies for China’s EV industry that could lead to tariffs on Chinese-made electric vehicles, potentially including Tesla cars.
Green energy subsidies are helping to transform China’s car market, with EVs accounting for about a quarter of new car sales last year and eating into demand for gasoline-powered cars.
Foreign automakers such as Volkswagen and Nissan are racing to develop new EV models to maintain or regain market share in China, the world’s largest car market.
