Elon Musk, the CEO of Tesla, is reportedly planning a trip to China in the coming weeks, with the intention of meeting with Chinese Premier Li Qiang. According to sources familiar with the matter, this will be Musk’s first visit to China since the outbreak of the Covid-19 pandemic.
China is a crucial market for Tesla, accounting for around 22% of the company’s total revenue in 2022, which amounted to $18.1 billion. Tesla’s Shanghai plant, which produces the popular Model 3 sedan and the Model Y crossover, is the company’s largest production center.
In 2022, Tesla delivered over 1.3 million vehicles worldwide, a significant increase from the previous year. Of these, more than 439,000 were delivered in China, which represented 33% of the company’s total deliveries for the year.
Despite facing some challenges in China, including increased scrutiny from regulators and competition from domestic electric vehicle manufacturers, Tesla has continued to see strong demand for its products in the country. The company delivered over 60,000 vehicles in China in the first two months of 2023 alone, according to data from the China Passenger Car Association.
Musk’s upcoming visit to China is likely aimed at strengthening Tesla’s relationships with Chinese officials and reaffirming the company’s commitment to the Chinese market. As the global shift towards electric vehicles continues to accelerate, China is likely to remain a key market for Tesla and other electric vehicle manufacturers in the years to come.
