Musk Denies Rumors of Tesla Selling or Divesting China Business
Tesla CEO Elon Musk denied a media report that the company was considering selling or divesting its China business to facilitate a potential merger with SpaceX. The report, citing sources, claimed Tesla executives were told to prepare for such a move and that advisory teams had discussed options including a spin-off, sale, or closure. Musk called the report "fake news" and said the matter was never discussed.
On July 31, a media report said Tesla is considering selling or divesting its China business, a move aimed at creating conditions for a potential future merger with SpaceX. The report, citing sources, said Tesla executives had been told to prepare for divesting the China business before any potential merger, and advisory teams had discussed various options including a spin-off, sale, or closure. The report also noted that Musk had designed Tesla's China business with ease of separation from the US business in mind, and in recent years he had instructed executives to establish clear boundaries between the China and US operations within the company structure to ensure the prospects of the US business.
Tesla CEO Elon Musk responded on social media, calling the report of selling or divesting the China business "fake news" and stating that the matter had never been discussed in any meeting.
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