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Tesla Inc.’s (NASDAQ: TSLA) Musk Lands in Beijing, Ponders Business in China – Report

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Musk Lands in Beijing
Musk Lands in Beijing

Shares of Tesla Inc. (NASDAQ: TSLA) surges over 3.5% to $199.01 in pre trading session on Tuesday as a new wave of investor confidence appears to be propelling Tesla, Inc. shares higher in the aftermath of its shareholder meeting, when CEO Elon Musk emphasized Tesla’s long-term commercial opportunities in developing fields like as autonomous driving and robotics.

According to Reuters, Tesla Inc. CEO Elon Musk’s private plane has landed in Beijing. According to insiders, Musk will meet with senior Chinese authorities and tour Tesla’s Shanghai facility on his first trip to China in three years. Tesla did not react quickly to a request for comment on Musk’s arrival in China.

It was unclear who Musk will meet with in the Chinese government or what topics they would address. As of Tuesday afternoon, state media had not reported on Musk’s visit.

In a statement, China’s foreign ministry said it welcomed Musk and other corporate leaders aiming to foster “mutually beneficial cooperation.”

According to Reuters, Musk is planning a trip to China and hopes to meet with Chinese Premier Li Qiang.

The trip comes at a time when Tesla is facing more competition from Chinese-made electric vehicles, as well as some doubt surrounding the Shanghai plant complex Musk last visited in early 2020.

After the United States, China is Tesla’s second-biggest market, and the Shanghai facility is the electric vehicle maker’s main manufacturing base.

The status of Tesla’s ambitions to raise output by 450,000 vehicles per year at its Shanghai facility is of particular interest to Tesla watchers. It announced in April that it will construct a neighboring plant to manufacture Megapack energy storage items.

Another unanswered concern is whether China’s regulators would approve the sale of Tesla’s sophisticated driver assistance functions, which are available in other regions as part of the $15,000 “Full Self Driving” program.

According to ADS-B Exchange, a flight aggregation website, Musk’s private aircraft, a 2015 Gulfstream G650ER, was seen departing Alaska on Tuesday morning Asia time before passing over Japan and South Korea.

According to Reuters, the airplane with the identifying tail number was spotted at Beijing Capital International Airport on Tuesday.

According to Reuters, the airplane with the identifying tail number was spotted at Beijing Capital International Airport on Tuesday.

While on his way to China, Musk tweeted on progress in China’s space program, which plans to place a crew on the moon by 2030.

“The Chinese space program is far more advanced than most people realize,” he asserted.

Since Russia’s invasion of Ukraine, Chinese scholars have been watching Musk’s SpaceX and the military uses of its Starlink satellite network with curiosity and alarm.

State-owned Chinese enterprises are racing to deploy their own low-Earth orbit communications satellites in response to Starlink’s success. According to information obtained by Reuters, Chinese military specialists have investigated Starlink as a potentially dangerous technology.

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