REMOVES FOUNDER FROM ELON MUSK TITLE In this photo released by Xinhua News Agency, visiting Tesla CEO Elon Musk, left, meets with Chinese Premier Li Qiang in Beijing, Sunday, April 28, 2024. Musk met with a top government leader in the Chinese capital Sunday, just as the nation’s carmakers are showing off their latest electric vehicle models at the Beijing auto show. A worker wipes as visitors sit on a BYD Song Pro DM-i car model during the Auto China 2024 in Beijing, Sunday, April 28, 2024.
Chinese Premier Li Qiang told Musk that he hopes the U.S. will work more with China on “win-win” cooperation, citing Tesla’s operations in China as a successful example of economic cooperation, China’s state broadcaster CCTV said on its main evening news program.by Secretary of State Antony Blinken. Li’s remarks also reflect China’s efforts to attract foreign investment to boost its flagging economy., which runs through this week.
Tesla has a major manufacturing base in Shanghai for both domestic sales in China and exports to Europe and other regions. It cut prices in China a week ago, dropping the Model 3 to 231,900 yuan and the Model Y to 249,900 yuan , followinginto Chinese subsidies for the EV industry that could lead to tariffs on electric vehicles made in China, potentially including Tesla cars.
The green energy subsidies have helped transform the Chinese auto market, with EVs reaching about a quarter of new car sales last year, eating into demand for gasoline-powered vehicles.are scrambling to develop new EV models to hold onto or claw back market share in China, the world’s largest automobile market.
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