Tesla Chief Executive Elon Musk is expected to visit China this week, three people with knowledge of the matter said, in what would be his first trip to the country in three years.
The trip would mark Musk’s first in China since he set the internet abuzz by dancing on stage during an event at Tesla’s Shanghai factory in early 2020., including intensifying competition with Chinese automakers that are exporting their China-made electric vehicles as demand in the world’s largest auto market weakens.
Tesla has not yet given any update on its plans to increase output by 450,000 vehicles a year at its Shanghai plant, although it said in April it wouldThe company has submitted plans to local authorities to expand capacity for producing powertrains at the Shanghai plant to 1.75 million units annually.
China’s state planner has been struggling with a capacity glut in its auto industry with more than 100 players and has been cautions about approving new production capacity.This will be Musk’s first visit to China since he danced on stage during an event at Tesla’s Shanghai factory in 2020.Musk told CNBC earlier this month that “there are some constraints on our ability to expand in China.” He added: “It’s not a demand issue.
In the same interview, Musk said tensions between the United States and China “should be a concern for everyone.” Tesla is building a plant in Mexico expected to produce a lower-cost electric car built on its next-generation platform.
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Tesla CEO Elon Musk expected to visit China this week, meet officials - sourcesTesla Chief Executive Elon Musk is expected to visit China this week, three people with knowledge of the matter said, in what would be his first trip to the country in three years. Musk is expected to meet senior Chinese officials and to visit Tesla's Shanghai plant, two of the sources said. It was not immediately clear who Musk would meet and what they would discuss.
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