Tesla shares ending today up just about four percent as Elon Musk makes his first trip to China in three years the high stakes visit consisted of meeting with the Chinese foreign minister who told the Press afterwards that musk is Keen to keep close ties to the country Yahoo finance his prostate Romanian joins me now with more and we know obviously China critical here to Tesla's success at least in the near terms yeah you know I was surprised to hear that it's been three years since he last visited it was that time he went to was the opening of the factory and did that dance on stage but obviously China very important to tell us their biggest it's their biggest Factory by volume they sold you know over 20 of their cars there it's a big deal and over half of the cars are exported from there to other markets so China a big a big factor for them in their success story he met with government officials today talking about how he opposes decoupling the U.S from China that that term that a lot of companies and people are talking about do we want to do companies want to sort of remove operations go to other places like India like you mentioned on Vietnam places like that musk saying that China is very important he wants to double down that they want to expand production in in Shanghai they want to build a mega Factory a big battery Factory there so I know that's not a big thing they want to do um so like I said yeah more than half Global deliveries from Giga Shanghai Tesla is there to stay and of course there's all the the permutations of of having Twitter Twitter not legal in in China uh musk has been fairly quiet on there since he arrived in China he'll probably be there for the rest for a few more days and visit that factory there yeah that's the other angle to the story here but president comes to Tesla and the success there in China we know that the company has been facing some pressure here from Chinese EV makers obviously also engaging in a price war of sorts over there trying to get more widespread adoption where does Tesla stand when you compare it to some of those Chinese EV makers they've been losing market share uh they were once the top EV seller in China they're down to 10 now of the overall Market byd leado Neo all those guys are coming up on them byd in particular uh with their uh range of hybrids and on a soon to be new EVS sort of eating into that new clean energy market for them so it's still an important Market but very competitive and they really need that gen 3 I guess cheaper robo-taxi vehicle they've been talking about to build that I think in Mexico and also China to address the concerns of affordability for the Chinese market because it's so Advanced there and you can buy a 10 000 rev I mean it's it's wild yeah certainly we've seen that the focus point of a number of analyst notes here over the last couple of months all right press good stuff thanks
