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[Updated – Corrected] Tesla China denies rumored “Tesla” venture in Jinan, China
Correction:
A spokesperson from Tesla China has issued a statement about the reported joint venture. According to the Tesla China spokesperson, the venture “has nothing to do” with the Texas-based electric vehicle maker. Data from Chinese corporate registry Qichacha also showed that the “Tesla” in the filings was listed as “Tesla Motors Limited,” which is based in the UK.
Context:
This story was initially sourced from data posted in Qichacha (QCC), a data and analytics company focused on China-based private and public companies. It’s a go-to service for company registration info in the country. Notable Chinese broadsheets such as Beijing Daily, the official newspaper of the Beijing municipal committee of the Chinese Communist Party (CCP), reported on the topic. Sina News, another news site that covered the story, also noted that the joint venture echoed a similar company established by BYD, which is also based in Jinan. The venture was also connected to the Jinan Licheng Financial Holding Group and the Jinan Licheng District Finance Bureau, both of which are close to the state.
Following is a tweet Teslarati posted when the legitimacy of this story was challenged.
We have pulled an article regarding Tesla and Annex Semiconductors being involved in a possible joint venture. We are attempting to verify the source of this article currently and will update you when we have more details. Thank you for your patience and we apologize.— TESLARATI (@Teslarati) November 28, 2022
**Original article is below.**
Tesla has plans to ramp its electric vehicle production by a notable degree in the coming years, and with the company’s constant innovations, it would need to secure a lot of resources, from battery raw materials to computer chips.
In this light, reports have emerged suggesting that Tesla has established a semiconductor joint venture in Jinan of eastern China’s Shandong Province. The joint venture is intended to supply automotive chip and electronics solutions. Tesla partnered with Swiss automotive semiconductor company Annex for the joint venture, which boasts a registered capital of $150 million.
As per a report from Chinese tech publication ijiwei, Tesla holds a 5% equity in the company for now, while Annex holds a 55% stake, and the Jinan Zurich Annex Equity Investment Fund Partnership holds a 40% stake. It should be noted that the Jinan Zurich fund acquired Annex this past June in a $5 billion deal, according to local reports.
Tesla has a formidable partner in Annex, as the Swiss company is among the global leaders in automotive system-on-chip (SoC), microcontroller (MCU), and processor, image sensor, and power device products. This likely provides the joint venture with the necessary technical know-how and experience to develop optimal semiconductors for the electric vehicle maker and its products.
If the recent reports from China prove accurate, it would appear that Tesla is making a serious play for the semiconductor market. Just recently, for example, reports have suggested that Taiwan Semiconductor Manufacturing Company Limited (TSMC) would be Tesla’s supplier of choice for its next-generation FSD computer, which would reportedly be manufactured at 4 nm and 5 nm processes.
Tesla’s chip order from TSMC is reportedly substantial, so much so that it would effectively make the American electric vehicle maker one of the chipmaker’s top seven customers next year. These reports present a pretty exciting picture for Tesla next year, as the Cybertruck, the first vehicle in the company’s lineup confirmed to have a next-generation computer, would also be entering production in 2023.
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Tesla just gave what is perhaps its biggest signal yet that the launch of the Cybercab, its autonomous ride-hailing-geared car, is imminent.
The Cybercab has been spotted outside of Gigafactory Texas in massive numbers over the past few days, with hundreds of units being stored on property just days after the vehicle received a Certificate of Conformity from the EPA.
Today, things were a bit different.
Cybercabs spotted on Giga Texas property today had an addition: a Cybercab decal on the side, reminiscent of the “Robotaxi” ones that were placed on Model Ys just as the company launched its ride-sharing platform about a year ago.
Giga Texas drone operator Joe Tegtmeyer noticed the change today:
Tesla Cybercabs are now getting “Cybercab” logos on the side of them!
Tesla did the same with Model Ys that were given “Robotaxi” logos: https://t.co/DanANtw1m7 pic.twitter.com/FqOhH0S9Ks
— TESLARATI (@Teslarati) June 19, 2026
Tesla could be signaling that the Cybercab is preparing to enter the Robotaxi fleet in the coming weeks or months with this move. It seems more symbolic than anything; Tesla is ready to throw Cybercabs in the ride-hailing platform just as it did with Model Ys last year.
The addition of the Certificate of Conformity awarded to the Cybercab is another major factor working to Tesla’s advantage. The company now has permission from the EPA to allow the vehicle to operate on public roads and enter the chain of commerce. It’s officially street legal.
Tesla Cybercab specs revealed: range, curb weight, range ratings, and more
The big question that remains is whether Tesla will be able to operate the car without a safety monitor, especially considering it plans to put the car out there without a steering wheel or pedals. With the Cybercab only having a seating capacity of two, it is hard to believe Tesla will even consider putting a Safety Monitor in the car.
It did recently self-certify as Level 4 and has the ability to operate driverless vehicles in the State of Texas under a law that took effect on May 28. You can read more about that here:
Tesla’s Robotaxi dreams just took a massive step toward reality
We’d imagine Cybercabs will be on the roads as soon as July, but August will likely be a better estimate of when the car will be entered into the Cybercab fleet. It all depends at where Tesla is, as they’ve truly prioritized safety with the rollout of the Robotaxi platform.
Elon Musk has publicly questioned Moody’s credit assessments following the rating agency’s decision to assign SpaceX a Baa1 investment-grade rating, two notches above Tesla’s Baa3. The comments came amid discussions comparing the two companies’ financial profiles.
SpaceX earned its first-time Baa1 rating with a stable outlook from Moody’s. The agency highlighted the company’s leadership in orbital launches, the growing recurring revenue from its Starlink satellite network, strong vertical integration, U.S. government contracts, and emerging opportunities in AI infrastructure.
These factors were cited as supporting robust cash flows, margin expansion, and financial flexibility.
Musk responded directly: “Tesla’s credit rating is ridiculously low tbh,” and added, “Yeah, makes no sense. Tesla has over $40B in cash, no debt, and is consistently profitable!” His remarks underscored Tesla’s balance sheet strength and profitability at a time when many traditional automakers continue to report losses in the shift to electric vehicles.
Yeah, makes no sense.
Tesla has over $40B in cash, no debt and is consistently profitable!
— Elon Musk (@elonmusk) June 19, 2026
Tesla maintains a leading position in the global EV market, with diversification into energy and storage, battery technology, and robotics through projects like Optimus. Recent financial updates show the company generated positive free cash flow of $1.4 billion in Q1 2026, supported by operating cash flow of $3.9 billion. Cash and short-term investments stood at approximately $44.7 billion.
Moody’s has affirmed Tesla’s Baa3 issuer rating with a stable outlook in periodic reviews, acknowledging the company’s EV leadership, technology strengths, including AI for autonomous vehicles, solid profitability, and strong liquidity.
Tesla (TSLA) scores Baa3 Moody’s rating for ‘stable’ outlook
However, the agency has also noted challenges in the automotive segment and expectations for margin pressures.
Musk’s critique highlights a common debate about how traditional rating methodologies apply to high-growth, capital-intensive technology companies. SpaceX benefits from long-term government-backed contracts and diversified, recurring revenue streams, while Tesla’s valuation reflects heavy investment in future technologies such as autonomy and robotics.
Both ratings remain investment-grade, yet the one-notch difference has fueled online discussion about potential inconsistencies in evaluating innovative firms.
The exchange comes as SpaceX explores financing options following its recent valuation milestones, while Tesla continues executing on its multi-year roadmap. Musk’s pointed response serves as a reminder that credit ratings, though influential for borrowing costs, represent one lens through which markets assess corporate strength—and that company leaders often view their financial positions through the lens of long-term innovation and cash generation rather than short-term risk metrics alone.
A new report from Reuters claims that a transport authority in Sweden is pushing back against the approval of Tesla’s Full Self-Driving suite because it will travel over speed limits.
The report says the Swedish Transport Administration (TRV) recommends the European Union votes against FSD’s approval. TRV believes it should not be approved until Tesla disables FSD’s ability to speed.
TRV sent a letter to the European Union’s Technical Committee on Motor Vehicles (TCMV), which is set to meet on June 30 to discuss the potential approval of the Tesla FSD suite in the country. Tesla, which has received various approvals in Europe over the past two months, has not provided a comment.
Teslas operating on FSD do travel over the speed limit, depending on the Speed Profile that is chosen. Drivers have the ability to disengage FSD at any point; Tesla specifically states that those supervising the suite are responsible for its actions.
Let’s cut to the chase: humans operating any vehicle speed almost daily in the United States. Realistically, speed limits in the U.S. are more frequently treated as speed minimums. However, other countries are different, and driving behaviors are less aggressive.
TRV believes that “allowing automated systems to systematically exceed legal speed limits…risks undermining both the legal framework and the expected safety benefits of vehicle automation,” the report stated. It’s surprising that Tesla has not received this claim from other countries previously.
This could be a good argument to bring Max Speed back, the setting that previously allowed the driver to choose the absolute fastest the car would travel.
This would still put the responsibility of supervision in the hands of the driver. It would allow the driver to choose whether the car would travel over the speed limit or not, acknowledging that they set the speed, and if they get pulled over, there would be no ability to argue it.
However, it does not seem as if this is something Tesla will do, especially considering many U.S. drivers have requested the feature in an effort to eliminate speeding or at least tone it down. The company has not shown any interest in bringing it back.
Tesla has approvals for FSD in Europe in Estonia, Lithuania, Denmark, the Netherlands, and Belgium.
Tesla gives its biggest signal yet that Cybercab launch is imminent
Elon Musk challenges Tesla credit rating from Moody’s after SpaceX gets a higher one
