Elon Musk gives credit to China for its efforts in leading the world in renewable energy.
Musk praises China for leading role in renewable energy and EV
Elon Musk shared on Twitter and the Chinese social media platform Weibo his thoughts about the country.
“Few seem to realize that China is leading the world in renewable energy generation and electric vehicles. Whatever you may think of China, this is simply a fact.”
Musk did not elaborate further on the matter, but his comment shouldn’t be taken lightly.
According to a South China Morning Post report, analysts said that the comment might be interpreted as the CEO driving countries like the US to work with China to develop the renewable energy sector.
Lucas Zhang Liutong, director of Hong Kong-based consultancy WaterRock Energy Economics, stated regarding the matter: “Given China’s existing capability and continued investment in the value-chain of clean energy technology development, it is much more productive for the US and China to work cooperatively in [this area],”
“If parts of the clean energy supply chain, like battery and smart grid equipment, come under bifurcation pressures like those seen in 5G [wireless technology], equipment costs will increase and the pace of decarbonization in many developing countries may slow down further,” he added.
China is currently the leader in renewable energy, where they lead in producing hydro, solar, and wind energy. While this matters, the country is also the world’s largest emitter of carbon dioxide and the most extensive coal consumer.
Tesla doesn’t just produce electric vehicles; they are also known for its efforts to save the planet and promote the use of renewable energy.
Well-known for its electric vehicles, some will expect that Tesla’s rivals will be large automakers such as GM, Ford, or Rivian. Some may even think even Volkswagen, which Musk noted earlier as the automaker doing the most in EVs. It isn’t an automaker.
In a recent tweet by Musk, he finally named Tesla’s rival, the Saudi oil company Aramco.
He stated, replying in a tweet: “Indeed I did. However, I also think that Tesla has the potential to be the most valuable company ever. When Tesla’s market cap, making sustainable energy products, exceeds that of Aramco, producing fossil fuels, you know the future will be good for Earth,”
According to real-time data by Companies Market Cap, Aramco is currently the world’s most valuable company, with a market capitalization of $2.431 trillion. It surpasses Apple with a market cap of $2.421 trillion and Microsoft with $2.043 trillion.
Tesla currently stands at the sixth spot with a market cap of $786.98 billion. They reached a peak of $1.099 trillion last December, but that’s still far away from Aramco’s current market cap.
Tesla, however, has definitive plans for the coming years. They plan to release its Semi and Roadster trucks and even Robotaxis. They are investing not only in the automotive sector but also in other areas such as artificial intelligence.