Elon Musk Makes Surprise Visit to China
Days after postponing his trip to India, Tesla CEO Elon Musk has reportedly made a surprise visit to China. This marks his second trip to the country in nearly a year, where he is expected to meet with senior officials and discuss the rollout of Tesla's Full-Self Driving (FSD) software.
China is Tesla's second-largest market, and Musk's visit comes amidst the ongoing Beijing Auto Show, which Tesla is not participating in this year. However, the company's recent announcement of utilizing existing factories for new and more affordable vehicles suggests a shift in strategy, potentially putting plans for new factories in Mexico and India on hold.
Musk's visit also coincides with Tesla's aim to increase production by 50% compared to 2023, reaching nearly 3 million vehicles before considering investments in new manufacturing lines. This approach may result in less cost reduction than initially anticipated, but Tesla emphasizes its ability to expand vehicle volumes efficiently amidst uncertain market conditions.