INTERNATIONAL BUSINESS

Elon Musk Predicts China Becoming World’s Largest Economy, Tesla’s Main Market

Just as Bill Gates has released various predictions about the future, businessman Elon Musk also jumped on the prediction bandwagon. The tech mogul predicted that China will become the world’s largest economy and will be Tesla’s main market in terms of production and sales.

The CEO of SpaceX also predicted a very promising future for the Asian country.

“I would like to give an optimistic note and I am very sure that the future of China will be great and that China is heading to be the largest economy in the world,” Musk told Xinhua news agency.

“In the long term, China will be our largest market, both where we will manufacture the most vehicles and where we will have the most customers,” added the billionaire, referring to the possibilities that the country offers for Tesla.

Elon Musk also applauded the goals set out in China’s economic and social plan, agreed in early March. The document indicates that the most populous country in the world (with more than 1.4 billion inhabitants), plans to reduce its carbon emissions by 18% by 2025. Its goal is to reach carbon neutrality by 2060.

“These targets are very aggressive. And I think they are great. And I wish that more countries had these objectives,” said the businessman.

In 2020, about a fifth of Tesla’s global revenue (about $ 31.5 billion) came from China. Currently, its largest market is the United States, with $15.2 billion, according to data cited by the Wall Street Journal.

Source: Entrepreneur 

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