BEIJING — BEIJING (AP) — Tesla founder and CEO Elon Musk arrived in China’s capital on Sunday, just as domestic automakers showcase their latest electric vehicle models at the Beijing auto show.
A brief online report by state broadcaster CCTV said 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 continuing the cooperation and other matters.
It was unclear whether Musk would visit the auto show, which takes place this week. Chinese automakers and startups have launched a series of electric cars in recent years, with some taking on Tesla and undercutting the U.S. automaker on price.
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), after similar cuts in the United States.
The European Union has launched an investigation into Chinese subsidies to the electric vehicle industry that could lead to the imposition of 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 automakers such as Volkswagen and Nissan are scrambling to develop new electric vehicle models to maintain or regain market share in China, the world’s largest auto market.
ABC News
