Did Tesla Seal Another Deal? Battery Giant CATL's Chairman Seen Visiting Elon Musk's Beijing Hotel

Author: Anan Ashraf | April 29, 2024 03:25am

Chinese battery giant CATL‘s chairman Robin Zeng on Monday reportedly visited the hotel in Beijing where Tesla Inc (NASDAQ:TSLA) CEO Elon Musk is staying on his visit to China.

What Happened: Zeng visited Musk’s hotel in Beijing on Monday, Reuters reported, citing witnesses. The witnesses saw Zeng exit an elevator in the lobby of Musk’s hotel where he was greeted by senior Tesla China executives Tom Zhu and Grace Tao. The news agency was unable to confirm if Zeng met with Musk. CATL is an important battery supplier for Tesla.

Musk arrived in the country on Sunday and met with Chinese Premier Li Qiang and the organizer of the ongoing Beijing Auto Show.

The visit has sparked speculation about the deployment of the company’s full self-driving (FSD) driver assistance software in the country. The software, which Tesla touts to be capable of enabling autonomous driving in due time, currently requires active supervision.

Why It Matters: Earlier today, it was reported that Tesla has partnered with Beijing-based internet company Baidu Inc for lane-level mapping and navigation data for China, crucial to deploying FSD in the country.

Musk has emphasized the importance of FSD for Tesla's future value, stating last week, “If somebody doesn’t believe Tesla is going to solve autonomy, I think they should not be an investor in the company.”

Earlier this month, he also hinted that the company will make FSD available to customers in China. “It may be possible very soon,” Musk wrote in response to a query from a vehicle owner in the East Asian country.

It may be possible very soon

— Elon Musk (@elonmusk) April 20, 2024

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read More: Musk’s China Mission Pays Off? Tesla Reportedly Inks FSD Deal With Internet Giant Baidu

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Posted In: TSLA