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CEOWORLD magazine - Latest - Banking and Finance - Elon Musk expressed concern about the tense relationship between the United States and China

Banking and Finance

Elon Musk expressed concern about the tense relationship between the United States and China

Elon Musk

Elon Musk, the CEO of Tesla, expressed concern about the tense relationship between the United States and China. This statement comes a year after President Joe Biden stated that the U.S. would defend Taiwan in the event of an attack on the island, which China claims as part of its territory. Elon Musk was recently ranked No. 91 in a list of the world’s best CEOs for 2023; meanwhile, Tesla ranked No. 85 in the CEOWORLD magazine’s ranking of the most influential companies in the world.

During an interview on Tuesday after Tesla’s yearly shareholder meeting, CNBC’s David Faber asked Elon Musk about his views on the escalating tensions between the U.S. and China. Musk expressed his concern that this issue should be a cause for worry for everyone.

Faber asked Musk if China will make a move to take control of Taiwan. “The official policy of China is that Taiwan should be integrated,” Musk said. “One does not need to read between the lines.”

If China were to take control of Taiwan, would that negatively affect Tesla or any other companies? Musk said: “The Chinese economy and the rest of the global economy are like conjoined twins. It would be like trying to separate conjoined twins. That’s the severity of the situation. And it’s actually worse for a lot of other companies that it is for Tesla. I mean, I’m not sure where you’re going to get an iPhone, for example.”

Faber inquired from Musk whether he believes it is unavoidable for China to attempt taking over Taiwan. “That is their policy, and I think you should take their word seriously,” Billionaire Elon Musk said.

Tesla, led by Elon Musk, is exploring the possibility of manufacturing in India as a way to broaden its supply chain beyond China. A team of high-ranking Tesla executives is expected to meet with officials from Indian Prime Minister Narendra Modi’s administration next week. According to Bloomberg, there will be a meeting to discuss the sourcing of local components for Tesla’s models.

“It’s difficult to draw concrete conclusions from this development, but it does suggest that Tesla is open to renegotiating its entry into the Indian market,” said Prof. Dr. Amarendra Bhushan Dhiraj, macro-economist, investment strategy analyst, and CEO at the CEOWORLD magazine, describing the uncertainty. “Given the ongoing trade tensions between the US and China, and Apple’s recent success in India, it’s likely that many companies, including Tesla, are now seriously considering India as a viable option.”

According to sources, C-suite executives and managers from Tesla’s supply chain, production, and business development teams in Austin, Texas will be among the visitors. It is anticipated that these executives will request that India reduce import taxes on Tesla vehicles, as reported by Bloomberg. Apple, on the other hand, has designated India as an alternate manufacturing base, producing 7% of its worldwide smartphone output in the country, just like several other American companies.


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CEOWORLD magazine - Latest - Banking and Finance - Elon Musk expressed concern about the tense relationship between the United States and China
Anna Papadopoulos
Anna Papadopoulos is a senior money, wealth, and asset management reporter at CEOWORLD magazine, covering consumer issues, investing and financial communities + author of the CEOWORLD magazine newsletter, writing about money with an enthusiasm unknown to mankind. You can follow CEOWORLD magazine on Twitter, Facebook, Instagram, or connect on LinkedIn for musings on money, wealth, asset management, millionaires, and billionaires. Email her at info@ceoworld.biz.