The key facts
- Musk at the Baron Capital conference on November 6: “China is amazing. I love China”
- He acknowledged that Chinese automakers produce high-quality cars and that it is not easy for Tesla to hold its position in China
- The Model Y, produced in Shanghai, is, according to Musk, the best-selling car in China
Statement at the Baron Capital conference
At the Baron Capital investment conference held on November 6, Elon Musk, speaking with investor Ron Baron, spoke highly of China and its automotive industry — even though Chinese manufacturers compete directly with Tesla in the local market. “China is amazing. I love China, by the way. Trips there are inspiring,” the entrepreneur said, as reported by Life.ru.
Acknowledging the strength of competitors
Musk paid particular attention to Chinese car companies: according to him, they produce high-quality vehicles, which makes it difficult for the American Tesla to maintain its strong position in the local market. “Think about that for a second. And let me note that Chinese car companies are very good,” the Tesla chief added. As an example, he cited the Model Y electric vehicle, which is produced in Shanghai and, he claimed, is the best-selling car in China; Musk emphasized that achieving such a result was extremely difficult amid local competition.
Tesla's special terms in Shanghai and earlier statements
During the conversation, Musk also recalled that the Chinese authorities granted his company special terms: Tesla was allowed to fully own its Shanghai plant without a mandatory local partner. This is a rare arrangement for a foreign automaker in China, and it is precisely what allows the company to produce the Model Y at its own factory. Earlier, as Life.ru notes, Musk, in an interview with Chinese television CCTV, called PRC Chairman Xi Jinping an excellent leader and said that during his trips around the country he notices significant changes in infrastructure, the urban environment, and people's living standards.
