Economy

China offers Elon Musk permanent residency

China offers Elon Musk permanent residency

While the company has recently been forced to slash prices in China due to the U.S. The pair got on so well Li offered to make Musk a permanent resident. "I really love China, I'm willing to visit here more often", Musk told Li, the Shanghaiist reported.

To this, Li replied: "If this is what you truly have in mind, we can give you a Chinese green card". This prompted the Securities and Exchange Commission to order greater board oversight, which said that this and other claims by him were false and misleading and affected Tesla's stock.

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. Washington later added tariffs to another $200 billion of Beijing's goods in September. Tesla's new plant in China will eventually have an annual production capacity of 500,000 vehicles, the California-based company has said, dramatically increasing its output.

More news: "I didn't know anything" about Manafort-Kilimnik polling contacts

Once completed, it will be the first auto plant in China to be wholly owned by a foreign company since Beijing relaxed its restrictions on compulsory joint venture partnerships in some sectors a year ago. Economists have also warned that China's economy appears to be slowing down, a fact that has been hampered further by trade tensions with Washington.

Meanwhile, trade negotiations between Beijing and Washington also appear to be going well, according to Chinese and US negotiators, as reported by Forbes.

Earlier on Wednesday, a Chinese government spokesman said three days of talks with US envoys aimed at ending a costly tariff battle had ended, but no details were immediately released.