Joe Biden DENIES Elon Musk And Tesla’s Chances To Work With China!
With the U.S. tightening technology exports to China in 2018, President Xi Jinping defiantly pledged to make China the world’s future innovation and industrial center. The key to his plan was Elon Musk.
According to officials involved in policy-making, Mr. Xi viewed the South African-born entrepreneur as a technology utopian with no political allegiance to any country and saw his Tesla as a spearhead that could make China power in new-energy cars. But now, with a new man at the helm of White House, Musk and China’s relationship may not live to see the day of light.
Tesla has been in China since 2013, but in the past few years, it has established a strong relationship with the Chinese government. When the carmaker was negotiating terms with authorities in 2017 for the construction of its Shanghai Gigafactory, it managed to retain complete control — an unusual arrangement, since its peers were typically required to partner with Chinese firms if they wanted to set up a local business at that time. China announced in 2018 that it would ease up on the automotive sector’s rules on foreign ownership by 2022.
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