Tesla Back to $200! China Visit Worth $25 billion or More?
Elon Musk yesterday met with China's State Councillor & Foreign Minister Qin Gang and will be ready to expand its business in China. On second day of his visit to China, Elon Musk visited the country's commerce & industry ministries.
On the news of China visit, $Tesla Motors(TSLA)$’s share price rose over 4% yesterday, and its market value increased by over $25 billion overnight.
After two months, $Tesla Motors(TSLA)$ finally rose above $200.
New results for Tesla after China Visit?
Three years ago, Elon Musk danced at the launch ceremony of the Shanghai Gigafactory, delivering the first batch of Model 3 to Chinese consumers.
Image
The world is concerned about the purpose of his visit.
1. Some speculate that Tesla intends to expand the scale of the Shanghai factory.
After the expansion, its annual production capacity will increase from the current 1.25 million units to 1.75 million units.
2. To popularize FSD in China
There is also news that Musk hopes to make an impact in the Chinese market regarding Tesla's popularizing Full Self-Driving (FSD) technology. He needs to obtain qualifications in China and verify if it is safe, mature, and reliable enough.
3. Cooperate with CATL to develop Megapack
A photo of Musk meeting with $Contemporary Amperex Technology Co.,Ltd.(300750)$ 's chairman, Zeng Yuqun, was circulating online.
The meeting between the two parties may be related to Tesla's recently established energy storage Gigafactory in Shanghai.
It is reported that this Gigafactory is specifically used to produce Tesla's Megapack (a large-scale commercial energy storage battery). It is crucial for Tesla to achieve its goal of 100% sustainable global energy by 2050. They have plans to purchase lithium iron phosphate battery cells from CATL.
At the end of March, Tesla had already announced plans to collaborate with CATL in building a factory in North America, which is currently planned to be located in Texas.
What's your expectation for Musk's visit?
Will Tesla go higher this week?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- MIe·2023-05-31TOPTesla musk finally back in action engaging n next is traders n fans charmLikeReport
- rL·2023-05-31TOPI dont expect much differences unless Elon dance again like 3 years ago[Happy][Happy]4Report
- highhand·2023-05-31Tesla will go as high as Mars!3Report
- Jamee James·2023-06-07Tesla is unstoppableLikeReport
- OO_898·2023-05-31Lik e2Report
- Bel8680·2023-05-31okLikeReport