Posted on 07/08/2023 4:07:29 AM PDT by Libloather
Tesla on Thursday reportedly agreed to promote "core socialist values" with over a dozen Chinese car manufacturers.
The Texas-based electric vehicle (EV) and clean energy company run by Elon Musk did so as part of a pledge to the Chinese auto industry, The Wall Street Journal reported.
The four-point pledge reportedly involved agreeing not to engage in "abnormal" pricing, to prioritize quality and not use false publicity. The plege promises to "take on the heavy responsibility of maintaining steady growth, strengthening confidence and preventing risk," according to the outlet.
The signing reportedly took place in Shanghai at a conference.
FOX Business reached out to Tesla about the pledge but did not receive a response by the time of publication.
The Journal identified BYD, NIO, XPeng, SAIC Motor, FAW Group and Geely as some of the other signatories. Apart from Tesla, all of them reportedly were Chinese.
The EV market in China has seen a price war as Tesla and some other companies have reduced prices to encourage more sales. That, according to the Journal, has had a particular impact on smaller EV makers, though prices for some brands of cars have since experienced increases.
The factory Tesla operates in Shanghai had over 93,000 deliveries in June, according to the Journal, which cited the China Passenger Car Association. The company described its Shanghai factory as its "main export hub" in its first-quarter shareholder deck, reporting it had an "installed annual vehicle capacity" of over 750,000.
(Excerpt) Read more at foxbusiness.com ...
Plege?
Re: Tesla's car sales in China:
Tesla (TSLA) China’s wholesale deliveries reached 247,217 vehicles in the April to June months, up 120% from a year ago, according to a CNN calculation based on data released Tuesday by the China Passenger Car Association (CPCA) [half of global sales]. Source
> to prioritize quality
That’s not a core socialist value.
I looked up “core socialist values.” After reading several interpretations most of which quoted Zi’s “thoughts” I decided on my interpretation. It’s a fox and a chicken deciding on what the fox is having for dinner. Virtually all of the interpretations include common ownership of the means of production and the workers making the decisions. This is suicide for Tesla.
The question is, will the CCP have “common ownership” of all of Tesla or just the part in China? Will Tesla have to do the same thing in other countries as far as letting the workers set the rules?
The industrialists who backed Hitler thought they’d be in control. It didn’t work out well. Probably, Tesla is going to try to keep things running as long as they can and then bail when it all folds in on itself.
So - how many other companies that operate in China get to bypass this?
I’d wager the majority of them either do it or don’t open for business - but they call out Musk because that’s what leftists do - call out folks they disagree with - and, ironically, accuse them of acting under leftist “values”..
Wall Street Journal writes and Fox repeats "clean energy." The phrase is itself propaganda, not rooted in actual science and engineering.
China is stuffed with more EVs than its market actually can handle. Thus the business model -- ha-ha-ha -- is just to hide away reality while looking for more rubes to "buy in."
With the media support of WSJ and Fox. Marketing, marketing and marketing.
This is clickbait. China is requiring an ethics statement and framing ethics as “core socialist values”.
These are not really “core socialist values”.
China actually licenses and registers EV than parks them side by side nose to tail in lots of 10,000 and leaves them to rot. Its all about production numbers and quotas.
Correct. Like other things, China has a remarkable skill at trying to hide the messes a command economy makes. It is only a matter of time before some of these enormous carparks of EVs begin to have a single vehicle fire which then spreads to other Evs only feet away. Should be quite the event. So much for "green" when the forest-of-cars wildfire erupts.
Baseless speculation from my 4th cup of coffee
What if Elon is beginning to question if these batteries will become a long term liability for Tesla? Maybe a long game of moving production to Commie China, then selling it off to them for an ongoing royalty on units manufactured?
He could then start a new R&D business focused on developing battery and other EV tech, selling it to highest bidders. Probably more profitable with less liability.
Chinese EVs end up in fields so they can get money from the government , China is one big scam , https://www.youtube.com/watch?v=1SEfwoqKRU8&t=36s
Funny, China is now a capitalist society that uses Marxist theory which it does not even practice. So what harm does Tesla do by playing this game?
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