New Delhi: Billionaire Elon Musk on Sunday arrived in Beijing after receiving an invitation from the China Council for the Promotion of International Trade. There is speculation coming on the way that Musk may unveil Tesla's autonomous driving technology in the burgeoning electric vehicle (EV) market in China.


COMMERCIAL BREAK
SCROLL TO CONTINUE READING

During his China visit, Musk is expected to meet senior Chinese officials at the State Council. Musk Tesla became a popular EV in China when it started its production in 2020 after setting up a USD seven billion factory in Shanghai, China.


Earlier,  Elon Musk was scheduled to visit India to meet Prime Minister Narendra Modi, Musk is now scheduled to visit later this year. "Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year," Musk wrote on microblogging site X.


 On April 10, Musk informed his India visit to meet Prime Minister Modi. "Looking forward to meeting with Prime Minister Narendra Modi in India." the post read. It was reported that the CEO was likely to announce investment in India, especially for building a new factory.


Musk’s recent trip to China coincides with the 2024 Beijing Auto Show.


CEO Elon Musk is likely to discuss the rollout of Ful-Self Driving (FSD) software with Chinese officials. This discussion may lead to obtaining approval to transfer data collected in a country abroad, Reuters reported.


Eaelier, the CEO has announced the layoffs that could impact more than 14,000 people came two weeks after the electric automaker reported its first year-over-year drop in sales in three years. 


"As part of this effort, we have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10 per cent globally. There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle," he said, PTI reported.