Economy News Article

Elon Musk Participates in World Internet Conference in China

Elon Musk (CEO of Tesla and other projects) has addressed Chinese authorities and citizens for the second time in a week and a half. In a video message, he assured them of his readiness to invest funds in development and expand business in the country. Special attention will be given to the security of processed data.

The data will be stored only in China itself and therefore will be accessible to the Chinese government at any time.

Elon Musk made his new statements during a video address to the audience of the World Internet Conference, which took place at the end of the week in China. He was joined by executives from Cisco Systems (Chuck Robbins), Intel (Pat Gelsinger) and Qualcomm (Cristiano Amon), while the interests of Chinese business were represented by the heads of Alibaba and Xiaomi.

The event was opened by Liu He (Vice Premier of the State Council of China), who cited Xi Jinping's words about China's aspiration to work with all nations to create a transparent digital economy.

In the near future, Tesla plans not only to increase the volume of electric vehicle production at its Shanghai facility, but also to develop an affordable electric car model (priced under $25,000) using a local design studio.

Already at present, Tesla Model Y and Model 3 vehicles assembled in China are being exported to Europe.

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