Tesla CEO Elon Musk Offered Residency by China

Kenny Grant
January 12, 2019

Musk lauded China's efficiency and speed of development, adding it was hard to imagine Tesla could complete all procedures for the factory in such a short period of time.

After a year to forget in the U.S., Elon Musk just had a few days to remember in China.

Tesla's factory is a big deal for Shanghai.

US electric carmaker Tesla Inc. on Monday broke new ground with its Shanghai factory, becoming the first to benefit from a new policy allowing foreign carmakers to set up wholly-owned subsidiaries in China.

Tesla Motors chief executive Elon Musk dined at a hotpot restaurant in Beijing, a day after he received an offer of permanent Chinese residency from Premier Li Keqiang.

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At a ceremony at the site of the plant on the outskirts of Shanghai, Musk joined the city's mayor and other local government officials to formally begin construction of a factory. The pair got on so well Li offered to make Musk a permanent resident.

"I love China and want to come here more often", Musk said during the meeting, the Hong Kong-based newspaper reported.

The high-profile entrepreneur met with Premier Li Keqiang on Wednesday in Beijing, where they discussed Tesla's China ambitions, said the State Council - the country's cabinet. Li told Musk he hoped the American carmaker can become an "in-depth participant in China's opening and a promoter of the stability of Chinese-U.S. relations".

Meanwhile, trade negotiations between Beijing and Washington also appear to be going well, according to Chinese and US negotiators, as reported by Forbes. China and the US also just wrapped up three days of talks to resolve trade disputes, and officials from both nations have expressed optimism that progress has been made.

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