Elon Musk pledges Tesla to China’s 'core socialist values' to avert EV price war
https://interestingengineering.com/t...cialist-values
China’s government has solicited a truce among its top EV manufacturers, with Elon Musk’s Tesla being the only foreign firm to sign the joint letter committing to the country’s “core socialist values”.
the “socialist” CEO has committed to reducing abnormal pricing and ending the “reckless” EV price war to maintain its presence in the cut-throat EV market in China.
The Twitter CEO had to refrain from tweeting during his recent visit to China as the text-based application is banned in the country.
With the Chinese market contributing enormously to Tesla's profitability, representing one-third of its annual sales, it is perhaps not surprising that Musk has made a commitment to ensuring fair competition within the communist country, given that this is what the Chinese government wants the company to do.