The CEO of Tesla Inc (NASDAQ: TSLA) hailed China’s “economic success” and “infrastructure” on Wednesday, encouraging everyone to “come and see” for themselves.
What happened was this: In a tweet on Wednesday, state-run media outlet China Xinhua News cited Xi Jinping as saying that the country has achieved its first centenary objective of constructing a moderately prosperous society and is now on its path to its second goal of transforming China into a “great modern” socialist country.
Musk responded to the tweet by stating, “The economic prosperity that China has attained is simply astounding, especially in infrastructure!” Musk has previously praised China’s energy achievements.
Musk commended China’s efforts to combat climate change in March, predicting that the Asian country would eventually become the electric car maker’s largest market.
Also see: In April, Tesla performed worse than the overall EV market. Deliveries in China are down 27% from the previous month.
Why It Matters: Musk’s remarks come after Tesla has been the subject of increasing scrutiny in China in recent months. China is also a crucial market for Tesla, accounting for approximately 30% of the company’s global sales and ranking as its second-largest market after the United States.
Tesla shares ended the day 0.16 percent lower at $679.70 on Wednesday.
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