Musk In Beijing: Tesla CEO Meets Foreign Minister, Opposes US Decoupling From China

Hours after landing in China, Tesla Inc TSLA CEO Elon Musk met with the country’s Foreign Minister in Beijing.

What Happened: At the meeting, the minister, Qin Gang, paralleled promoting sound China-U.S. relations to driving a car and called for mutually beneficial cooperation, Foreign Ministry spokesperson Hua Chunying said.

Musk, for his part, said that Tesla opposes decoupling of the two economies or cutting off supply chains. The ministry statement added that Tesla is ready to expand business in China and partake in its development opportunities.

As per Reuters reports, Musk is now expected to meet with CATL chairman Zeng Yuqun, and other senior Chinese officials and visit the EV company’s Shanghai plant.

Why It Matters: The CEO is visiting the country for the first time in about three years. According to Wedbush analyst Daniel Ives, building Tesla’s China footprint is important as it remains the “golden goose EV market.”

The analyst added that gaining market share against domestic competitors is extremely key to Tesla as the price war intensifies.

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