It’s a busy week in China as some of the biggest names in U.S. business are in town — Elon Musk, JPMorgan Chase CEO Jamie Dimon, and Starbucks CEO Laxman Narasimhan have all gone overseas.
Dimon, who’s there for a three-day JPMorgan summit in Shanghai, is hoping his visit will help smooth things over after he made a joke in 2021 that his company would outlast the Chinese Communist Party.
“You’re not going to fix these things if you are just sitting across the Pacific yelling at each other. So I’m hoping we have real engagement,” he said at the conference this week.
Narasimhan is also in Shanghai for business meetings and announced that he’s doubling down on plans to open another estimated 2,800 locations in China by the end of 2025, hoping that the country will become the coffee chain’s biggest market.
Elon Musk’s arrival in China has captured significant attention, with all eyes focused on him. Reports indicate that he arrived in Beijing via a private jet on Tuesday and subsequently traveled to Shanghai on Wednesday to visit Tesla’s factory and meet with the staff members.
This visit demonstrates Musk’s hands-on approach and his commitment to overseeing the operations of Tesla’s facilities in China. Given the importance of the Chinese market for Tesla’s electric vehicles, Musk’s presence serves to strengthen the relationship with local employees and stakeholders, while also reinforcing Tesla’s commitment to the region and its growing customer base.
Elon Musk’s visit to China after a three-year gap, attributed to pandemic-related travel restrictions, has brought delight to the masses. The anticipation and joy surrounding his visit indicate the strong support and enthusiasm that the Chinese population holds for him.
Musk’s return to the country signifies the importance of the Chinese market for Tesla and his personal engagement with the Chinese audience. It also demonstrates the resilience and recovery of travel and business activities in China after the challenging period of the pandemic.
The warm reception highlights the positive sentiment and interest in Musk’s ventures and contributions to the fields of technology and clean energy. According to Reuters, Elon Musk is being referred to as a “global idol” and “Brother Ma” in China.
The comparison to Jack Ma, the renowned Chinese billionaire and co-founder of Alibaba, highlights the admiration and recognition that Elon Musk has garnered in the country.
This parallel signifies Musk’s significant influence, not just in the realm of technology and electric vehicles but also in terms of his entrepreneurial prowess and impact on the global business landscape.
The nickname “Brother Ma” suggests that Musk is being seen as a figure with similar entrepreneurial success and innovation, earning him admiration and respect among Chinese audiences.
Chinese social media platform Weibo has shared images of a customized menu for a dinner event, coinciding with the presence of Elon Musk, CEO of Tesla.
The photographs also capture Musk’s arrival at the venue, accompanied by Zeng Yuqun, the prominent Chinese billionaire and founder of Contemporary Amperex Technology (CATL), a major battery manufacturer.
The convergence of these influential figures suggests a potential collaboration or partnership between Tesla and CATL, highlighting the significance of the event and the strategic alliances being forged within the electric vehicle and battery manufacturing industries.
Man Fu Yan’s menu showcases Tesla’s logo and offers a distinctive dining experience with 16 courses that pay tribute to the electric car company. The menu highlights Tesla’s status as a “dark horse” in the automotive industry, emphasizing its exceptional accomplishments and departure from conventional norms.
This homage reflects the admiration for Tesla’s innovative spirit and groundbreaking achievements in the field of electric vehicles. Man Fu Yan aims to create a culinary parallel by presenting a remarkable dining experience that mirrors the uniqueness and excellence associated with Tesla’s brand.
Tesla, having established its Shanghai gigafactory in 2018, is planning to commence the construction of a battery factory at the same site in the third quarter of 2023. The production of batteries is expected to be finalized by the second quarter of 2024.
This expansion reflects Tesla’s ongoing commitment to the Chinese market and its recognition of the increasing demand for electric vehicles and energy storage solutions in the region. By localizing battery production, Tesla aims to enhance its supply chain efficiency and better cater to the rapidly growing market for electric vehicles in China.
The production of Tesla’s Megapack, a rechargeable battery energy storage device, will mainly take place at their newly established facility.
The Megapack serves as a vital component in battery storage stations, offering a high-capacity solution for storing renewable energy. By manufacturing the Megapack in its dedicated facility, Tesla aims to streamline production and meet the increasing demand for energy storage solutions.
This strategic move reinforces Tesla’s commitment to sustainable energy and signifies its dedication to developing advanced technologies that support the widespread adoption of renewable energy sources.
Musk did not post on social media about his visit overseas.
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Information Source:- entrepreneur
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