"Look at Tesla" Praised in China... Happy Musk Breakdances on the Spot

[Image source=Reuters Yonhap News]

[Asia Economy Beijing=Special Correspondent Sunmi Park] Tesla, a leading American electric vehicle company, is emerging as a representative case of successful entry into the Chinese market despite the escalating US-China trade war. Tesla's case has been evaluated as clearly demonstrating the appeal of China felt by foreign companies.

On the 8th, China's state-run Global Times praised Tesla as a true beneficiary of China's market opening efforts amid the US-China trade war. Tesla's successful production and delivery of the electric vehicle 'Model 3' to Chinese consumers just one year after building its Shanghai factory is regarded as quite successful even in China.

The newspaper explained, "No one expected a year ago that Tesla would build a Gigafactory in Shanghai and produce and deliver the 'Model 3' to Chinese customers in such a short time," adding, "This is only possible within a manufacturing powerhouse like China." It also added, "Producing electric vehicles in a new factory within one year is a miraculous speed," and "This is a key factor that makes foreign companies attracted to China."

It emphasized that in India, it takes a year just to lay the foundation for factory construction, and in Germany, negotiations with labor unions can take more than a year, highlighting that establishing a factory and completing production and delivery within one year in China is an unprecedentedly fast pace. China has removed restrictions on foreign automakers' local factory ownership and possesses the most efficient and comprehensive supply chain in the new energy vehicle sector. Tesla's success story has been praised as a 'showcase' demonstrating not only China's manufacturing capabilities and efficiency but also the government's active industrial support.

The importance of securing the Chinese market for foreign companies is also well illustrated by Tesla's case. The newspaper stated, "In the past, there was much debate about how attractive the Chinese market was to foreign companies, but this has now been proven beyond doubt," adding, "In Tesla's case, China has become the world's second-largest market, and in the first half of last year, sales in China increased by 41.8% to $1.47 billion." It also noted that Tesla has set an annual production target of 500,000 units at the Shanghai factory, which is equivalent to 50% of China's total new energy vehicle sales.

Tesla established a wholly-owned Shanghai factory amid China's active market opening moves during the US-China trade war, avoiding the tariff war's impact and securing price competitiveness. Tesla's ability to produce its main models at the Shanghai factory over the next few years to enhance competitiveness was evaluated as a strength, leading to a more than 4% surge in its stock price on the New York Stock Exchange that day.

At the Model 3 delivery celebration held at the Shanghai factory the previous day, Tesla CEO Elon Musk expressed joy over the successful production and delivery in China and became a hot topic by performing an energetic impromptu dance on stage. Wearing a black suit, Musk could not contain his excitement when the background music 'More Than You Know' played during a conversation with the host, throwing off his jacket and starting to dance. Cheers and applause erupted from the audience.

At the vehicle delivery ceremony, Musk said that without China's support, the miraculous achievement of building the factory, starting production, and delivering products within one year would not have been possible.

This content was produced with the assistance of AI translation services.