Billionaire Elon Musk unexpectedly landed in Beijing aboard a private flight on Sunday.
Musk, who runs leading electric vehicle company Tesla among other ventures, will reportedly meet Ren Hongbin, president of the China Council for the Promotion of International Trade (CCPIT), for negotiations during the visit, according to Chinese state television.
His visit also coincides with the Beijing Auto Show, China’s largest automotive industry event, although it remains unclear whether Musk plans to visit the trade fair.
China remains the second-largest market for Tesla vehicles, and is also a major production hub for the company. Tesla’s largest factory is located in Shanghai.
Tesla has been mired in a business slump, exacerbated by a general downturn in the market for electric cars and tough competition from cheaper Chinese-made vehicles, which have significantly improved in quality over recent years.
Tesla announced earlier this month that it would cut more than 10% of all jobs worldwide.
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