Elon Musk Visits Japan After Nearly A Decade — Here's Where He Went In Tokyo

Benzinga · Aug 17, 2023 23:59

Elon Musk, CEO ofÂ Tesla Inc.Â (NASDAQ:TSLA), has landed in Japan for his first known visit in nine years.

What Happened:Â The tech billionaire announced his arrival in Japan through a post onÂ X, formerlyÂ Twitter, on Thursday evening local time.Â

Just arrived in amazing ðŸ‡ ̄ðŸ‡μ Japan ðŸ‡ ̄ðŸ‡μ
â€" Elon Musk (@elonmusk) August 17, 2023

His last visit to Japan was in 2014, when he finalized an agreement withÂ Panasonic Holdings Corp.Â (OTC:PCRFY) for a U.S. battery factory,Â reportedÂ Bloomberg.Â Â

Musk shared videos fromÂ TeamLab, an interactive art exhibit in Tokyo, on Friday.

pic.twitter.com/zkp1aiwauy
â€" Elon Musk (@elonmusk) August 18, 2023

This is Muskâ€s second trip to Asia this year,Â following his visit to China, where he met with government officials and visited Teslaâ€s Shanghai factory.

Japanâ€s major automakers, includingÂ Toyota Motor Corp.Â (NYSE:TM), have lagged behind dedicated EV makers like Tesla and Chinaâ€sÂ BYD Manufacturing Company LimitedÂ Â (OTC:BYDDY) (OTC:BYDDF) in the electrification race.Â

Tesla, however, has had to cut prices in key markets amid rising interest rates, sparking concerns of a potential price war in Chinaâ€s auto market.

See Also:Â If You Invested $1,000 In Tesla Stock When Elon Musk Acquired X.com, Hereâ€s How Much Youâ€d Have Today

Why It Matters:Â Muskâ€s visit to Japan comes amid significant developments that may impact Teslaâ€s operations and overall EV market dynamics.Â

In 2022, Japan raised concerns about a potential drop in revenue due to the increasing shift towards EVs. The country has also previouslyÂ considered raising taxes on electric vehicles, which could have an impact on Teslaâ€s market position.

Further, Japanâ€sÂ declining birthrateÂ has been a serious concern for the nation, with the number of households with children falling below 10 million in 2022. Musk previously commented on this demographic challenge, stating it poses a risk to civilization.

Additionally, Japan has the second-highest number of X users at 58.95 million behind the United States, according to January 2022 data from Statista. The U.S. has 76.9 million users.

The Tesla CEOâ€s visit also follows a recentÂ incidentÂ involving a fake X account impersonating Japanâ€s top diplomatÂ Masato Kanda.Â

With these factors in the backdrop, Muskâ€s Japan visit could significantly shape Teslaâ€s regional strategy and relations.

Read Next:Â Tesla Stock Set For Brighter Days After 23% Post-Earnings Slide? 2 Bulls Weigh In: â€ ̃Itâ€s A Table-Pounderâ€

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Elon Musk Visits Japan After Nearly A Decade — Here's Where He Went In Tokyo

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