Featured Image Credit: Tesla China
A Tesla China executive attended President Xi's symposium for business leaders in the country. Tesla was the only EV automaker invited to the event, indicating its role as a leader in China's EV industry.
There were 36 Chinese companies and 11 foreign companies at the symposium which took place in Beijing. Very few of the companies invited represented the auto industry in China, and Tesla was the only new energy car company invited to participate.
Tesla's presence at the event indicates that the national government recognizes the contributions it could make in China's new energy vehicle industry as a leader in the global EV market. It also reveals that the Chinese government supports Tesla China and its work in Giga Shanghai.
Credit: Chinese Media
At the conference, China's President Xi Jinping gave a speech about economic recovery and development after the global pandemic. "Listening to President Xi’s important speech at the conference excited and inspired us. As a high-tech company with innovative genes, Tesla is very honored to participate in China's economic construction...Tesla will give its all to bring more value to Chinese car owners, partners, and the new energy industry," said Tesla China's representative at the event.
Tesla China's EV market share has been growing in the country. "During the first half of 2020, Tesla's market share of battery electric vehicles in China reached 21%, up from 6% for the year in 2019 and 2% in 2018... It appears that concerns about Tesla's ability to sell lower-end cars in China have been misplaced," wrote Sam Korus in the ARK Invest Newsletter.
During the 2020 World AI Conference, Elon Musk revealed that Tesla China would be working with original designs and engineering, cementing the idea that Gigafactory Shanghai will be a leader in the EV market. "I really want to emphasize this a lot, that we are going to be doing original engineering in China. So, It's not just converting stuff from America to work in China. We will be doing original design and engineering in China," Musk said.
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