ELON MUSK GOT SPECIAL FAVORS FROM CHINA TO SET UP TESLA PLANT: ‘HE’S EXPOSED…'

China handed Elon Musk special privileges to set up a Tesla plant in the country, New York Times reported. This leaves him vulnerable to leverage from Beijing, the report added, citing former Tesla employees, diplomats, and policymakers who described Elon Musk's relationship with China's government.

The report claimed that Elon Musk was offered concessions from the Chinese government to set up a Tesla plant in Shanghai. The construction of this plant began in 2019, it was earlier reported.

What perks did China offer to Elon Musk?

China offered Tesla perks which included low-interest loans, new emissions credit policy which the company profited from and even changed ownership rules so that Tesla could set up without a domestic partner, the report claimed. Tesla's China plant accounts for more than half of the company's global deliveries and the company is increasingly dependent on the low costs of car production in China, the report added.

China's focus on EV market

China is building a powerful EV industry of its own while keeping Tesla on the back foot, the report said, adding that Tesla's presence in China has helped to turbocharge its EV industry by increasing innovation in key sectors.

ELON MUSK GOT SPECIAL FAVORS FROM CHINA TO SET UP TESLA PLANT: ‘HE’S EXPOSED…'

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What perks did China offer to Elon Musk?

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China's focus on EV market

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