Elon Musk's meeting with the Chinese Foreign Minister Qin Gang finally paid off.
A Tesla showroom is seen in the City Center shopping center on January 17, 2023, in Washington, DC. The automaker decreased the prices of their Teslas by 20 percent, a move seen as a reaction to competition in the global market for electric vehicles and rising inflation rates.
This is the latest trip of the billionaire to China since the Asian country just lifted its zero-COVID policy and reopened borders.
Aside from Musk, other giant CEOs also visited China in the same week. These include Starbuck's Laxman Narasimhan and JP Morgan's Jamie Dimon.
When Elon arrived in China, he quickly met with Qin Gang hours after landing in Beijing.
Elon Musk's Meeting With Chinese Foreign Minister Pays Off!
According to CNBC's latest report, Qin and Musk discussed a lot of things about the business of Tesla in China.
Electric car maker Tesla CEO Elon Musk looks on among other CEOs before a roundtable during the 6th edition of the "Choose France" Summit at the Chateau de Versailles, outside Paris, on May 15, 2023. Since 2018, the Choose France Summit has sought to promote France's economic attractiveness and encourage international investment across the country, and brings together hundreds of leaders from the largest multinational corporations.
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The Chinese foreign minister said that the billionaire praised the achievements of China and its residents. He also stated that Tesla opposes "decoupling" with China. This means that the EV manufacturer wants to further expand its business in the country.
Since the meeting was a success, Tesla's shares jumped 5% on Tuesday; the company's stocks even reached a trading value of $202.93 (2.6% higher) at 10 a.m. ET.
This successful meeting was conducted as the tech industry tensions between China and the United States continued.
What Elon and Qin Discussed
During the meeting, Elon and Qin discussed the expansion of Tesla in China. The Chinese official told the Tesla CEO that China is committed to enhancing the business environment for its investors, such as the EV maker.
He even shared a driving metaphor to describe the current relations between China and the U.S. "We must step on the brake in time, avoid dangerous driving and be skillful at using the accelerator to promote mutually beneficial cooperation," said Gang via Reuters.
If you want to learn more about the things they've discussed, you can click this link.
In other news, the EV maker said it would reveal the new Tesla gigafactory's location before 2023 ends. Meanwhile, Elon Musk said that he is considering sharing Tesla codes with other automakers.
For more news updates about the business activities of Elon, always keep your tabs open here at TechTimes.
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