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Tesla shares rise as Elon Musk meets with China’s foreign minister

Posted on AllSides May 30th, 2023
From The Center
Ding Ting | Xinhua News Agency | Getty Images

Shares of Tesla rose Tuesday after the electric carmaker’s CEO Elon Musk met with China’s Foreign Minister Qin Gang.

It comes as Beijing is pushing to show it is open to foreign business, and as Musk reportedly signaled further expansion of his car company’s business in China.

Qin, who was until recently China’s ambassador to the U.S., said “Chinese-style modernization,” characterized by a huge population and “common prosperity” will create “unprecedented growth potential and market demand,” according to a statement from the Chinese foreign ministry.

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