In China, Elon Musk Felt the Love That Was Missing at Home

Daniel Fowler
January 12, 2019

Musk responded by saying that he would like to make the plant "a global example".

"I love China and want to come here more often", Musk said, according to a transcript of the meeting, which took place Wednesday.

The handshake ceremony with Li coincided with the China Passenger Car Association reporting the first annual slump in auto sales in more than two decades.

Getting a Chinese "green card" has been described as "one of the most hard tasks in the world".

Oracle Corp. founder Larry Ellison has acquired a $1 billion stake in Tesla Inc., making him the carmaker's second-biggest individual investor after his close friend Elon Musk.

Toyota recall 1.7 million more cars over risk of exploding airbags
Japanese manufacturer Takata's front passenger air bag inflators killed at least 23 people worldwide and injured hundreds more. Previously, 37 million U.S. vehicles with 50 million inflators were recalled and 16.7 million inflators remain to be replaced.

Tesla broke ground on Monday in Shanghai on its first factory outside the United States. It also delivered a total 245,240 cars in full-2018, which is more than Tesla's deliveries for all prior years, the company said.

While the company has recently been forced to slash prices in China due to the U.S. Washington later added tariffs to another $200 billion of Beijing's goods in September.

The new Tesla plant also comes as vehicle sales have dropped dramatically across China, declining for the first time in two decades, the BBC reported.

Once completed later this year, Tesla's Gigafactory 3, situated in the Chinese port city of Shanghai, will be able to sell its cars directly into China. Economists have also warned that China's economy appears to be slowing down, a fact that has been hampered further by trade tensions with Washington. With no end in sight to the U.S. China and the USA also just wrapped up three days of talks to resolve trade disputes, and officials from both nations have expressed optimism that progress has been made.

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER