Thursday 22 February 2018

China key to Tesla's future says Elon Musk

Elon Musk
Elon Musk

TESLA Motors chief executive Elon Musk, who's preparing to begin deliveries of his Model S electric vehicle in China, has forecast that the company will be making cars in the country in the next three to four years.

Tesla is also building a "big" network of battery-charging stations in China, including superchargers in Beijing and Shanghai, the billionaire said at a packed Geekpark Conference in the nation's capital. He told reporters in Beijing that the company plans to invest hundreds of millions of dollars in the country. "At some point in the next three or four years we'll be establishing local manufacturing in China," Musk said.

"China is very important to the future of Tesla. We're going to make a big investment in China in terms of charging infrastructure."

Local production in the world's biggest auto market would allow Tesla to sell cars at cheaper prices by avoiding China's 25pc import tariff. But while entering the country presents an opportunity for Tesla to sell as many vehicles there as in the US by as soon as next year, Musk will be attempting to accomplish what the Chinese government has struggled to do: get people to buy electric cars.

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