Elon Musk Skips His Scheduled Visit To India, Goes To China Instead (image for representation)
Tesla CEO, Elon Musk recently visited Beijing, sparking speculation about Tesla’s self-driving technology in China. Musk‘s visit coincided with the 2024 Beijing Auto Show, raising curiosity about Tesla’s plans in the region, as stated in a recent report by a news agency.
The report states that the tech honcho was invited by the China Council for the Promotion of International Trade. Musk met with CCPIT president Ren Hongbin to discuss potential collaborations. He also met with senior Chinese officials and old acquaintances in Beijing. Tesla’s presence in China is strong, thanks to its Shanghai factory, which started operating in 2020. Despite facing competition from local electric vehicle makers, Tesla has maintained its appeal through pricing adjustments.
The report showered light on the statement by Grace Tao, Tesla’s vice-president in China, who highlighted the importance of self-driving technology for the country’s electric vehicle sector. She emphasized its potential to create new business models, echoing Musk’s vision. Musk on the other hand received special treatment during his visit to China, including access to exclusive areas and meetings with high-ranking officials. His visit was well-received by the public, who followed his activities with interest. The company is also planning to build a new facility for Tesla Megapack batteries in China to facilitate the growth of the company in the Chinese market.
The report also cited a statement from Musk which states, “As part of this effort, we have done a thorough review of the organisation and made the difficult decision to reduce our headcount by more than 10 per cent globally. There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle”.
However, Tesla recently announced layoffs exceeding 10 percent of its global workforce to improve efficiency. Musk acknowledged the need for these measures to prepare for future growth amidst changing sales trends. This layoff can potentially impact 14,000 people.
(With PTI inputs)
