Elon Musk plans to expand business in China

Chinese Foreign Minister Qin Gang held a meeting with Tesla Inc CEO Elon Musk in Beijing. They discussed the interests of the United States and China, as well as the expansion of Musk's business in China. 

«Healthy, stable and constructive Sino-American relations are beneficial not only to both countries, but also to the whole world,» said Qin.

During the meeting, the Foreign Minister also stressed that China will continue to promote openness to companies from all over the world, including Tesla, which is owned by Musk. Elon Musk himself also noted that his company is ready to continue expanding its business in China, since the interests of the United States and China are «inseparable from each other, like Siamese twins.»

Today, China is the second largest market for Tesla after the United States, and its Gigafactory Shanghai plant in Shanghai is considered the company's largest manufacturing center.

Analysts note that Musk's trip to China comes at a time when Tesla is forced to deal with increased competition from local automakers and some uncertainty about the development plans of its Shanghai plant. The last time Elon Musk visited this company was in early 2020.