Elon Musk, co-founder and CEO of Tesla, said in an exclusive interview with China Media Group (CMG) said China will become the company's largest market.
"China, I think in the long term, will be our biggest market. Both where we make the most number of vehicles and where we have the most number [of] customers," Musk said.
Musk praised China's 14th Five-Year Plan for its commitment to pursuing a low-carbon economy and sustainable energy use, saying the country's plans to reach carbon emissions peak around 2030 and achieve carbon neutrality by 2060 are aggressive and great goals.
Musk predicted that China's economy would do exceptionally well over the next decade and that the country would be Tesla's largest market in the long run. The majority of Tesla vehicles will be made in China, which is also poised to become the world's largest EV market.
According to technology research website Canalys, China sold 1.3 million EVs in 2020, accounting for 41%of global EV sales, just one percent less than sales in Europe. It predicted that EV sales in China will increase by 51% this year to 1.9 million vehicles.
Tesla is estimated to have sold 137,000 EVs in China in 2020, as the operation of its Gigafactory in Shanghai rendered its prices more competitive on the market. China is now Tesla's fastest growing market, while the U.S. remains the biggest market, with 206,000 EVs delivered last year.
Tesla has recently received flak in China, with frequent reports of the vehicles' suspected mechanical breakdowns, infuriating customers.
In addition, recent security concerns that Tesla's cameras and ultrasonic sensors may be used for spying have sparked intense debate on Chinese social media, which Musk has since denied.
"If Tesla used cars to spy in China or anywhere, we [would] get shut down," Musk said.
