Elon Musk expressed his fondness for China and praised the local automotive industry, even though Chinese manufacturers are creating the most serious pressure on Tesla’s market position. The technology magnate made the comments during Baron Capital’s annual investment conference, where he spoke with his longtime investor Ron Baron.
During the event, the founder of the American giant did not hold back in sharing his emotional impressions of the Asian country. "I love China. This country is incredible, and traveling there is truly inspiring," the entrepreneur told the audience.
Particular attention was devoted to the rise of local automotive companies, whose products stand out for their exceptionally high quality. According to Musk, this is precisely what makes maintaining a leading position in the domestic market an extremely difficult challenge. As an illustrative example, he pointed to the Tesla Model Y bestseller, which is assembled at the gigafactory in Shanghai and continues to hold the top spot in the country in terms of sales despite the uncompromising competitive environment.
During the conversation, the billionaire also recalled the unprecedented support provided by Chinese state institutions in the past. The company was allowed to build and fully own its manufacturing complex in Shanghai, without being required to partner with local firms – a privilege that had previously been granted to no foreign carmaker.