Tesla founder Musk visits China as competitors show off new electric vehicles at Beijing auto show

BEIJING (AP) — You’re here founder and CEO Elon Musk met with a senior government official in the Chinese capital on Sunday, just as the country’s automakers are showcasing their products. latest models of electric vehicles at the Beijing Auto Show.

Chinese Premier Li Qiang told Musk he hoped the United States would work more with China on “win-win” cooperation, citing Tesla’s operations in China as a successful example of economic cooperation, said Chinese state broadcaster CCTV in its main evening news program.

For China, Musk is a welcome antidote to the tough talk from US officials that has taken place recently. during a visit by Secretary of State Antony Blinken. Li’s remarks also reflect China’s efforts to attract foreign investment to boost its flagging economy.

It was unclear whether Musk would come the car show, which takes place this week. Chinese automakers and startups have launched a series of electric cars in recent years, some confront with Tesla and undercutting the American manufacturer on prices.

A previous online report from CCTV said that Musk came at the invitation of the China Council for the Promotion of International Trade and met with its chairman Ren Hongbin to exchange views on further cooperation and other issues. topics.

Tesla has a major manufacturing base in Shanghai for its domestic sales in China and exports to Europe and other regions. A week ago, it cut prices in China, bringing the Model 3 down to 231,900 yuan ($32,700) and the Model Y to 249,900 yuan ($35,200), following similar discounts in the USA

The European Union has launched an investigation in Chinese subsidies to the electric vehicle industry that could result in tariffs on Chinese-made electric vehicles, potentially including Tesla cars.

Green energy subsidies have helped transform China’s auto market, with electric vehicles accounting for about a quarter of new car sales last year, eating into demand for gasoline-powered vehicles.

Foreign car manufacturers like Volkswagen and Nissan are scrambling to develop new electric vehicle models to retain or regain market share in China, the world’s largest auto market.