Monday, 25 March, 2019

China offers Elon Musk permanent residency

The billionaire 74 indirectly owns 3 million Tesla shares The billionaire 74 indirectly owns 3 million Tesla shares
Orlando Vargas | 12 January, 2019, 09:13

Ellison, 74, indirectly owns 3 million Tesla shares through the Lawrence J. Ellison Revocable Trust, according to the filing.

Last month, the company said it had missed industry forecasts for deliveries of its budget Model 3 auto and announced price cuts to offset lower tax incentives.

Tesla Motors chief executive Elon Musk dined at a hotpot restaurant in Beijing, a day after he received an offer of permanent Chinese residency from Premier Li Keqiang. He also criticised how the news media had covered Musk and called him a close friend.

"I love China and want to come here more often", Musk said during the meeting, the Hong Kong-based newspaper reported. Li replied: "If this is what you truly have in mind, we can give you a "Chinese green card"". Replying to a tweet in which one Twitter user jokingly implied that Tesla vehicles in the year 2022 will look something like a flying DeLorean auto from Back to the Future, Musk stated that "the new Roadster will actually do something like this".

While the company has recently been forced to slash prices in China due to the U.S.

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"We hope you can get a firm foothold and expand the market", Li said, suggesting that Tesla could be a "participant in China's opening up and a promoter of stable China-U.S. relations".

The Tesla Inc. boss swept through the country this week, kicking off construction at a factory near Shanghai, hanging with the premier and chowing down on hotpot in Beijing.

What happened: China is looking to promote foreign investment and attract worldwide talent.

The handshake ceremony with Li coincided with the China Passenger Car Association reporting the first annual slump in auto sales in more than two decades.

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