What’s new: Foreign Minister Qin Gang met with Elon Musk in Beijing Tuesday, reportedly the Tesla CEO’s first trip to the Chinese mainland in three years. The pair discussed China-U.S. relations, with Qin stressing that a “healthy, stable and constructive” relationship would be beneficial for both countries, according to the Ministry of Foreign Affairs.
Using the analogy of driving a car, Qin said the development of such relations would require steering and “moving in the right direction” of mutual respect and peaceful coexistence, “promptly stepping on the brake to avoid dangerous driving and hitting the gas to promote mutually beneficial cooperation,” according to the foreign ministry statement.
Musk said the U.S. electric-vehicle (EV) maker is willing to continue expanding its business in China and stands against the “decoupling” of the two economies, noting that the countries’ interests are intertwined and inseparable from each other, according to the statement.
China remains committed to opening up and providing a market-oriented and law-based business environment for foreign enterprises, including Tesla, Qin said.
The background: In April, Tesla Inc. announced plans to build a new battery factory in Shanghai to manufacture its Megapack large-scale energy-storage unit.
Tesla’s existing Shanghai factory is its primary production hub in China, rolling out more than 750,000 vehicles a year, over half of its global output, according to the firm’s 2022 results.
Contact reporter Kelly Wang (jingzhewang@caixin.com) and editor Jonathan Breen (jonathanbreen@caixin.com)
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