Beijing: China’s industry minister met Tesla Ltd. CEO Elon Musk Wednesday and the two discussed the development of electric and “intelligent networked” vehicles, the ministry said.
The ruling Communist Party is trying to revive investor interest in China’s slowing economy. Foreign companies are uneasy following raids on consulting firms and given the strained Chinese relations with Washington.
Jin Zhuanglong and Musk “exchanged views on the development of new energy vehicles and intelligent networked vehicles,” said a statement by the Ministry of Industry and Information Technology. It gave no details.
China accounts for half of global electric vehicle sales and is the site of Tesla’s first factory outside the United States.
On Tuesday, Foreign Minister Qin Gang told Musk during a meeting that China’s EV market “has broad prospects for development,” according to a ministry statement.
Tesla opened the first wholly foreign-owned auto factory in China in 2019 after Beijing eased ownership restrictions to increase competition and speed up industry development.
The Chinese statement cited Musk as saying Tesla was willing to expand its business in China and “opposes decoupling,” a reference to fears the world may split into multiple markets with incompatible products.
Tesla didn’t respond to requests by email for information about Musk’s visit to China.
