Royal Institute of Traditional Arts implements Saudi-Chinese cultural exchange program    Localization in Saudi military industries rises to 19.35%    Logistics park for vehicles worth SR300 million to be set up at Dammam port    Commerce Ministry recalls 6,500 Genesis cars due to risk of fire    HONOR KSA expands its presence with new flagship Experience Store in Riyadh HONOR's first flagship store in KSA provides visitors with a premium experience, exciting offers and free services    Saudi, Iranian foreign ministers discuss Oman-mediated talks with US    Prince Sultan University launches first bachelor's program in language and media    Al-Falih: Eastern Province hosts 700 investment opportunities worth SR330 billion    Putin announces three-day Russian ceasefire in Ukraine from 8 May    Crown Prince donates SR1 billion to support housing for eligible families    Pakistani military says it killed 54 militants attempting to cross border from Afghanistan    Suspect charged after Vancouver car ramming leaves 11 dead    Eight hundred Houthi targets hit after weeks of strikes, says US    Rock & Roll Hall of Fame picks Outkast but not Oasis    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Tesla boss on first China trip in over three years
Published in The Saudi Gazette on 31 - 05 - 2023

Tesla chief executive Elon Musk is in China, as he makes his first trip to the world's second largest economy in over three years.
He arrived in Beijing on Tuesday and is also expected to visit Tesla's huge manufacturing plant in Shanghai.
The multi-billionaire met China's foreign minister Qin Gang within hours of arriving in the country.
Musk has not yet publicly commented on the trip, which comes amid tensions between the US and China.
He also declined to make any comments about his plans for the trip when asked by reporters as he left a hotel in Beijing on Wednesday.
Later on Wednesday, Mr Musk met China's industry minister Jin Zhuanglong and discussed the development of electric vehicles.
In a statement on Tuesday, China's foreign ministry said that Musk was willing to expand the car maker's business in the country, which is Tesla's biggest market after the US.
The ministry added that during the meeting Musk had described the economies of the US and China as "conjoined twins".
Tesla did not immediately respond to a BBC request for comment.
Musk has also been uncharacteristically quiet on Twitter, which he owns and where he has more than 141 million followers.
He is known for tweeting many times a day but as of midday on Wednesday had not posted anything since arriving in the country on Tuesday afternoon.
The social media platform is banned in China but it can be accessed through VPNs, or Virtual Private Networks.
Musk is the latest high-profile US executive to make a trip to China. JP Morgan chief executive Jamie Dimon is also in China this week, while Apple boss Tim Cook visited the country in March.
However, as tensions rise between Washington and Beijing Tesla finds itself in a difficult position, Dan Ives from investment firm Wedbush Securities said.
"Playing nice in the sandbox in Beijing is something Wall Street is laser focused on, to make sure there are no disruptions to Tesla's expansion within China for the coming years," Mr Ives added.
In January 2019, Tesla started building its so-called gigafactory in Shanghai, which was the firm's first manufacturing plant outside the US.
Later that year, it delivered its first Chinese-made cars, marking a major milestone for the American company.
However, Covid lockdowns across the country, including in the financial, manufacturing and shipping hub of Shanghai, made it increasingly difficult for manufacturers to operate.
Last year, Musk said the coronavirus lockdown of Shanghai was "very, very difficult" for Tesla, which reportedly halted most of its production at its gigafactory for several weeks.
Operations have since resumed at the plant, which produced its millionth car in August, according to Mr Musk. This accounted for a third of Tesla's global production.
Last month, the company said it planned to build a new factory in China to make its large-scale "Megapack" batteries.
China has also become the largest market for Tesla's Model Y mass-market electric vehicle, according to market research firm JATO.
More than 94,000 Model Y vehicles were sold in China in the first three months of this year, putting it ahead of the US and Europe, JATO data shows.
In recent years, Tesla's lead in electric vehicle market has been challenged by increased competition from car making giants, including Ford and General Motors, as well as newer entrants into the market like China's BYD and Nio.
Musk -- who bought Twitter last year for $44bn (£35.5bn) -- has been under pressure to find someone else to lead the company and refocus his attention on his other businesses, including Tesla and rocket firm SpaceX.
Earlier this month, he named Linda Yaccarino, the former head of advertising at NBCUniversal as the platform's new chief executive.
Ms Yaccarino will face the challenge of running a business that has struggled to be profitable, while facing intense scrutiny over how it handles misinformation and hate speech.
Twitter is now worth around a third of what Musk paid for it, according to financial services firm Fidelity Investments, which helped to finance his takeover of the company. — BBC


Clic here to read the story from its source.