China open for foreign firms, Li tells Musk
Print Edition
Premier Li Qiang met with Elon Musk, CEO of United States electric carmaker Tesla, in Beijing yesterday.
Musk — one of the world’s richest person — arrived earlier the same day on his second trip in less than a year to the world’s biggest market for electric vehicles.
Chinese state broadcaster CCTV said that during their meeting, Li promised the country would do more to help foreign firms.
“China’s very large-scale market will always be open to foreign-funded firms,” Li was quoted as saying.
“China will stick to its word and will continue working hard to expand market access and strengthen service guarantees.”
China would also provide foreign companies with “a better business environment” so “that firms from all over the world can have peace of mind while investing in China,” Li added.
Musk has extensive business interests in China and his most recent visit was in May and June of last year.
CCTV quoted him as praising the “hardworking and intelligent team” at his Tesla Gigafactory in Shanghai during his meeting with Li.
“Tesla is willing to take the next step in deepening cooperation with China to achieve more win-win results,” he reportedly added.
Earlier, the billionaire met with the head of the China Council for the Promotion of International Trade, Ren Hongbin, “to discuss next steps in cooperation and other topics,” CCTV said.
Having once derided Chinese EVs, Musk has described their manufacturers as being “the most competitive car companies in the world.”
Musk’s own company has run into trouble in the world’s second-largest economy: in January, Tesla recalled more than 1.6 million electric vehicles in China to fix their steering software.
His arrival in China coincides with a cut-throat price war between firms desperate to get ahead in the fiercely competitive EV market.
China’s local car giant BYD beat out Tesla in last year’s fourth quarter to become the world’s top seller of EVs.
Tesla reclaimed that title in the first quarter of this year, but BYD remains firmly on top in its home market.
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