Elon Musk, the CEO of Tesla and a tech millionaire, reportedly obtained special treatment from Chinese officials when establishing a facility for his auto business, potentially putting him under Beijing’s sway, as per a News article.
According to the investigation, which included interviews with workers, ambassadors, and legislators, China modified its regulations for Elon Musk’s business in order to allow Tesla to build a plant in Shanghai.
It was mentioned that Tesla was able to obtain low-interest loans, that the emission credit policy had changed, and that ownership had changed so that Tesla was now owned independently of a local partner.
In January of this year, Tesla said that the Shanghai plant, the first gigafactory outside of the US, had sent 947,000 vehicles into the market in 2023, a 33% increase.
