Tesla CEO Elon Musk commended China's advances in the electric vehicle (EV) sector during his visit in Beijing on Sunday.
"It's good to see electric vehicles making progress in China. All cars will be electric in the future," he said.
Musk visited China at the invitation of the China Council for the Promotion of International Trade (CCPIT). He met with Ren Hongbin, president of the CCPIT to exchange views on topics including cooperation.
Tesla's Shanghai Gigafactory, the company's first manufacturing plant outside of the U.S., delivered some 947,000 vehicles last year.
Data from the China Association of Automobile Manufacturers shows that in 2023, China's NEV production and sales increased by 35.8 percent and 37.9 percent year-on-year respectively. The sales accounted for nearly 65 percent of total global NEV sales. China has been the world's top producer and seller of NEVs for nine years in a row.
The country's huge consumer market provides a favorable environment for the research and development and upgrade of NEV technology. Due to a higher level of acceptance among Chinese consumers of vehicle intelligence and new technologies, many automotive companies are prioritizing the launch of new products and technologies in the Chinese market.
Tesla CEO Elon Musk commends China’s progress in EV sector
China-Cambodia ties received a boost from Chinese investments in Cambodia's nascent new energy industry on Thursday, as the Cambodian Confederation of Investors Association hosted an event in the capital city of Phnom Penh to welcome these new investments.
The association is expected to better coordinate among ministries and enterprises to start this fresh phase of new energy investment.
Addressing delegates at the ceremony, Cambodian Prime Minister Hun Manet emphasized his government's strong focus on foreign investments in Cambodia, especially in the private sector.
He said Cambodia and China are engaged in close economic cooperation and promised that the Cambodian government will try its best to create a better business environment and solve problems. In recent years, several Chinese companies in the new energy technology and electric vehicle (EV) sector – including the Huaneng Group, Great Wall, BYD and Midea – have started building infrastructure in Cambodia.
"China-Cambodia trade relations have prospered in recent years. We've chosen to invest in new energy projects in Cambodia, including factories and charging equipment. We believe the investments in industries in Cambodia will further improve China-Cambodia friendship," said He Dong, president of ZM Trucks China.
For Cambodia, Chinese investment in electric vehicles and renewable energy plants offers an opportunity to benefit from technology transfers and industrial upgrading.
It would also help Cambodian businesses, create employment opportunities and improve people's living conditions.
"We welcome the investment very much because it helps Cambodia's economic development. It creates more job opportunities for Cambodians and is also good for the environment," said Kun Thai, general chairman of Cambodia Confederation of Investors Association.
The association is working actively with the Chinese new energy sector – to get more companies into Cambodia, and a wave of investment that will usher in positive changes.
Cambodia welcomes more Chinese investment in new energy industry
