Tuesday, October 31, 2023

Elon Musk Discusses ‘Intelligent Networked Vehicles’ in China

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China is a major player in the global electric vehicle market, accounting for half of all sales. Tesla has established its first factory outside the United States in China, where it opened a wholly foreign-owned car factory in 2019. Tesla CEO Elon Musk recently met with top Chinese ministers to discuss the development of electric and intelligent networked vehicles, as well as expanding the company’s operations in China. Musk expressed confidence in the Chinese market and was willing to deepen mutually beneficial cooperation. China is also trying to revive investor interest in its slowing economy and reassure companies amidst anti-monopoly and data-security crackdowns, as well as US-Chinese political and military tensions. JPMorgan Chase & Co CEO Jamie Dimon also weighed in, saying that the US and China need to engage in real dialogue to resolve their security and trade issues, rather than decoupling.

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