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Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory, according to Reuters.
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Tesla (NASDAQ: TSLA) CEO Elon Musk is expected to visit China this week, Reuters said in a report today, citing three people familiar with the matter.
Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory, two of the sources said, according to the report.
It's unclear who Musk will meet with and what they will discuss, the report noted.
A Reuters report on March 31 said Musk planned to visit China as early as April and seek a meeting with Chinese Premier Li Qiang.
The Tesla CEO last visited China in January 2020, when he showed off a dance during the delivery of Tesla's first China-made Model 3 electric vehicles (EVs).
China is Tesla's second-largest market after the United States, and its Shanghai plant is the EV maker's largest production center, producing the Model 3 sedan as well as the Model Y crossover.
For all of 2022, the Chinese market contributed $18.1 billion in revenue to Tesla, or 22 percent of its $81.5 billion in total revenue, according to its 10-K filing with the SEC on January 31.
The US market contributed $40.6 billion in revenue, or 49.8 percent, to Tesla in 2022.
For the full year 2022, Tesla delivered 1,313,851 vehicles worldwide, up 40.38 percent from 935,950 in 2021.
The EV maker delivered 439,770 vehicles in China in 2022, contributing 33 percent of the year's deliveries, data monitored by CnEVPost show.
Tesla's Shanghai plant produced 727,000 units in 2022, up 49.7 percent from a year earlier, Chen Kele, deputy director of intelligent manufacturing promotion division at Shanghai Municipal Commission of Economy and Informatization, said earlier this month.
Tesla's Shanghai plant had an industrial output of 183.9 billion yuan ($26 billion) in 2022, which accounts for 23 percent of Shanghai's auto manufacturing output, driving 1.3 percentage points of local industrial output growth, Chen said.
Shanghai will further deepen cooperation with Tesla to promote the EV maker's businesses including self-driving, and robotics in Shanghai, he said at the time.
From January to April, Tesla delivered 177,385 vehicles in China, up 61.54 percent year-on-year, according to the China Passenger Car Association (CPCA).
Tesla's Shanghai plant exported 127,779 vehicles in January-April, up 72.97 percent year-on-year.
In addition to its EV business, Tesla is bringing its other major business -- energy storage -- to China.
Tesla signed a deal with Shanghai's Lingang authorities on the afternoon of April 9 to build a new Megafactory in the area, which will be dedicated to producing Tesla's energy storage product Megapack, according to a previous announcement from Lingang's special area administration.
The Megafactory will be Tesla's first energy storage system factory outside its US home market, with an initial planned annual production of up to 10,000 units of commercial energy storage batteries and an energy storage scale of nearly 40 GWh, with products to be supplied to the global market.
The factory is scheduled to start construction in the third quarter of this year and put into operation in the second quarter of 2024.
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Neta delivered 11,080 vehicles in April and is targeting sales of 300,000 units in 2023.
(Image credit: Neta)
Neta Auto, Hozon Auto's electric vehicle (EV) brand, has opened its global headquarters in Shanghai as it attempts to create a more premium brand image.
Neta's global headquarters in Shanghai's Putuo district has officially opened with functions including strategy planning, resourcing, decision-making, and coordination of the company's global operations, according to a press release today.
The facility is also Neta's flagship experience center, research and development center, data center, and service center, it said.
Models including the Neta S, Neta GT, Neta U-II, and Neta V are being showcased at the facility.
Neta was founded in 2014 and previously had a Shanghai headquarters in the city's Minhang district, but no global headquarters, according to its website. The company has a design center in Beijing and a factory in Tongxiang, Zhejiang province.
Neta has been seen as a budget EV maker since its inception, as its vehicles are priced primarily at the lower end of the market, with the Neta V and Neta U priced at around 100,000 yuan ($14,130).
Neta's flagship sedan, the Neta S, is its first effort at the premium end of the market, with the model primarily targeting the RMB 200,000 to 300,000 price range.
The Neta GT sports car was launched on April 18 with a starting price of RMB 178,800 to RMB 227,800.
Neta delivered 11,080 vehicles in April, which was up 25.72 percent from 8,813 units in the same month last year and up 9.84 percent from 10,087 units in March, according to data released by the company on May 1.
Neta S delivered 2,237 units in April, up 1.41 percent from 2,206 units in March, according to the company.
Neta has a sales target of 300,000 units in 2023, local media China Securities Journal reported on February 7.
The EV maker has sales of 152,073 units in 2022, up 118 percent year-on-year, including 3,456 units delivered overseas, according to data it previously announced.
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