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On February 14, 2025, Xi Guohua, Chairman of CITIC Group, convened a meeting with Mike Snyder, Vice President of Tesla. During the meeting, Xi Guohua emphasized that CITIC Group aims to strengthen its existing partnership with Tesla and proactively seek out new avenues for collaboration in the fields of new energy development, comprehensive financial services, and industrial synergy. Together, the two entities aim to propel China's new energy production capabilities towards global expansion. Furthermore, CITIC Group expressed its willingness to assist Tesla in deepening its penetration into the Chinese market. In response, Snyder expressed optimism, suggesting that the upcoming commissioning of Tesla's Shanghai Energy Storage Megafactory presents an ideal opportunity to broaden the scope of cooperation between the two companies.
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