Elon Musk meets Chinese Premier in Beijing. Did he postpone India visit for this?

Tech billionaire Elon Musk met Chinese Premier Li Qiang on Sunday as Beijing sought to attract investments from foreign funds. This is his second visit to China in less than a year.

Musk’s visit comes shortly after his scheduled visit to India —during which he was to have a meeting with Prime Minister Narendra Modi— was postponed. He had said he postponed the visit because of “very heavy Tesla obligations”.

Following their meeting, Li said that China would provide foreign companies with a better business environment so that firms from all over the world may invest peacefully in China.

Honored to meet with Premier Li Qiang.

We have known each other now for many years, since early Shanghai days. pic.twitter.com/JCnv6MbZ6W

— Elon Musk (@elonmusk) April 28, 2024

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On his part, Musk said that Tesla is willing to “take the next step” in deepening cooperation to achieve mutually beneficial results, according to Chinese state media.

‘China will work hard to expand market access’: Premier Li

Following his meeting with Musk, Li said that China will “work hard” to expand market access to foreign firms and will enable foreign investments.

“China’s very large-scale market will always be open to foreign-funded firms. China will stick to its word and will continue working hard to expand market access and strengthen service guarantees,” said Li, as per state broadcaster CCTV.

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Li further said that China will also provide foreign companies with “a better business environment” so “that firms from all over the world can have peace of mind while investing in China”, according to the Chinese broadcaster.

China has long been criticised for being discriminatory in international trade. It has long been argued that while China has benefitted from globalisation and its companies have profited from access to Western markets, the Chinese market has been denied to Western companies.

‘Willing to deepen cooperation with China for win-win results’: Musk

Following his meeting with Li, Musk said that Tesla is willing to take the next step to deepen cooperation with China “achieve more win-win results”.

Musk has extensive business interests in China where he also has a gigafactory for his electric vehicles (EV) Tesla. While EVs are slowly catching up in the rest of the world, EVs have become a mainstay for the country’s middle class.

Musk praised the “hardworking and intelligent Chinese team” at Tesla’s gigafactory in Shanghai during, as per CCTV.

“Tesla is willing to take the next step in deepening cooperation with China to achieve more win-win results,” Musk was quoted as saying.

Before meeting Li, Musk also met Ren Hongbin, the head of the China Council for the Promotion of International Trade, “to discuss next steps in cooperation and other topics”, according to the report.

Musk’s attention to China and concerns for US

While Musk snubbed Chinese EVs, he has lately hailed Chinese EV-makers as the “the most competitive car companies in the world”. His company Tesla is facing stiff competition from Chinese EV-makers BYD and Xiaomi.

“It’s good to see electric vehicles making progress in China. All cars will be electric in the future,” Musk was quoted as saying on Sunday.

Musk’s affinity with Beijing has long been a concern for Washington. In 2022, US President Joe Biden said Musk’s link with foreign countries were “worthy” of scrutiny, according to AFP.

Musk has also echoed Beijing on sensitive topics such as Taiwan. He has suggested that the self-ruling island should become a part of China, which was welcomed in Beijing but deeply angered Taipei.