SAN FRANCISCO — When Elon Musk opened a Tesla factory in Shanghai in 2019, the Chinese government welcomed him with billions of dollars’ worth of cheap land, loans, tax breaks and subsidies. “I really think China is the future,” Mr. Musk cheered.Tesla’s road since then has been lucrative, with a quarter of the company’s revenue in 2021 coming from China, but not without problems. The firm faced a consumer and regulatory revolt in China last year over manufacturing flaws.With his deal to take over Twitter, Mr. Musk’s ties to China are about to get even more fraught.Like all foreign investors in China, he operates Tesla at the pleasure of the Chinese authorities, who have shown a willingness to influence or punish companies that cross political red lines. Even Apple, the world’s most valuable company, has given in to Chinese demands, including censoring …
Browse
Business Central
Accelerate growth with 1BusinessWorld's Global Business Profile
Sign up for free or use coupon code 1BW50 for 50% discount on your subscription
Sign up nowLatest Business News
- Democratizing Commerce: A Powerful Vision for Shared Prosperity (12/3/2024) - Empowering Small Businesses, Driving Wealth Creation, and Building a Collaborative… Read more...
- Safeguarding the Future: How AI is Transforming Homeland Security and Redefining Resilience (12/2/2024) - AI and Homeland Security: Navigating the Intersection of Opportunity and… Read more...
- Global Tourism Reimagined: Building Bridges for a Brighter Future (12/1/2024) - Building Bridges in the New Era: Annette Cardenas Advances Global… Read more...
- Leadership at Sea: The Art of Curating Unforgettable Journeys (11/24/2024) - Lisa Bauer Redefines Excellence Through a People-Driven Vision for Cruise… Read more...
- The Critical Role of Psychological Safety in Business Success (11/21/2024) - How Creating Cultures of Rewarded Vulnerability Unlocks Innovation, Engagement, and… Read more...
- Empowering Growth: The Leadership Imperative for Building Entrepreneurial Ecosystems (11/20/2024) - In today's rapidly evolving business landscape, characterized by technological advancements… Read more...