Elon Musk meets with China’s second official in Beijing | Technology

The Telsa CEO’s unannounced visits come as Chinese carmakers promote rival models at the Beijing Motor Show.

Tesla CEO Elon Musk met with China’s No. 2 official on an unannounced visit to Beijing.

Musk’s meeting with Chinese Premier Li Qiang comes as Chinese automakers promote their latest electric vehicles at the Beijing Motor Show, which runs from April 25 to May 5.

During Sunday’s meeting, Li told Musk that he hoped the United States would engage with China in “win-win” cooperation, citing Tesla’s operations in China as a successful example of working together, state media reported. Chinese.

“China’s large-scale market will always be open to foreign-funded companies,” Li said.

“China will keep its word and continue to work hard to expand market access and strengthen service guarantees.”

Musk said in a post on X that he was “honored” to meet the second employee.

“We have known each other for many years, since the early days of Shanghai,” Musk said.

Musk’s visit was not announced in advance and it is unclear whether his itinerary might include a visit to the Beijing auto show, where Chinese automakers are showing off electric vehicles that compete directly with Tesla models.

The billionaire businessman’s trip comes just over a week after he canceled a scheduled visit to India to meet Prime Minister Narendra Modi due to Tesla’s “very heavy obligations.”

Tesla operates its largest factory outside the US in Shanghai, where about half of its vehicles are produced.

The electric car maker has struggled with sluggish sales, in part due to stiff competition from Chinese brands.

Tesla’s vehicle deliveries fell 8.5% in the first quarter, contributing to a 40% drop in its share price since July.

The company last week reported first-quarter profits of $1.1 billion, down from $2.51 billion a year earlier.

Musk earlier this month told employees in a memo that the company would lay off more than 10% of its global workforce to be “lean, innovative and eager for the next cycle of the growth phase.”

Chinese auto giant BYD dethroned Tesla as the world’s largest electric vehicle maker in the last three months of 2023, although the Austin, Texas-based company regained the title in the first quarter of this year.

Musk has made several trips to China in recent years, ending his most recent visit in June last year.