Elon Musk’s company seems to have found its biggest fans in China.Getty Images
Elon Musk told officials in Beijing that he is against the United States and China decoupling their economies.
On a visit to the country, he described the United States and China as “united twins,” according to a statement from China’s foreign ministry.
This comes as relations between the United States and China are under intense strain, raising concerns for companies with business in the country.
Elon Musk told officials in Beijing that he opposes the United States and China weakening economic ties, according to the Chinese Foreign Ministry.
The Tesla CEO reportedly expressed his disapproval of the economic decoupling between China and the US while meeting with China’s foreign, trade and industry ministers.
“The interests of the United States and China are intertwined as conjoined twins,” Musk said in a statement from the ministry on Wednesday.
For his part, Chinese Foreign Minister Qin Gang told Musk that both countries needed to “keep the steering wheel in the right direction” in their relationship, emphasizing “mutual respect” and “cooperation among all”.
“China always welcomes business figures from all countries, including Mr. Musk, to visit China for deeper understanding of the country and mutually beneficial cooperation,” a foreign ministry spokesman said in a press conference on Tuesday. “We welcome foreign companies to invest and do business in China, explore the Chinese market and share development opportunities.
Musk’s private jet touched down in Beijing on Tuesday, marking the billionaire’s first visit to China in nearly three years. This comes as tensions between the United States and China reach a potential breaking point, with Chinese officials expressing fury in recent months over US politicians show support for Taiwan i Heated congressional questioning of TikTok CEO for security issues.
US lawmakers are considering it limits on US investment in Chinese companiesprompting China to suggest it could retaliate if its companies continue to clash tough deal in the US.
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The breakdown of economic ties between the two countries could be a major concern for companies like Tesla, which has key production and manufacturing plants in China that help it keep production costs low.
But Musk’s visit has so far been welcomed with open arms by Chinese officials and industry figures alike. Later on Tuesday, Musk shared one 16-course feast with one of China’s leading battery executiveswith its restaurant menu customized with a Tesla logo, Reuters reported.
Tesla has floated creating a new battery factory in Shanghai, and Musk is expected to visit Tesla’s existing production plant in Shanghai later in his trip. This visit will be especially important for Tesla investors, Wedbush analysts said, as the plant represents one of Tesla’s “key advantages” as it battles other competitors in the electric vehicle market.
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