(Reuters) – Rich Chinese investors are channeling tens of millions of dollars for companies controlled by billionaire Elon Musk, using an agreement that protects their identities from public views, the Financial Times said on Sunday.
Investments are being made through specific purpose vehicles to prevent the wrath of US authorities and companies suspecting Chinese capital during a moment of low relations between the two countries, the newspaper said, citing assets and investors managers involved in the transactions.
Three asset managers supported by China told the Financial teams that they sold more than $ 30 million in Spacex, Xai and Neuralk – three private technology companies controlled by Musk – investors in the last two years.
The influx of Chinese capital for the Musk Business Empire has as its main objective profit and has little to do with technology transfer or influence on public policies, people told FT.
Spacex, Xai and Neuralk did not immediately respond to requests for comments.
MUSK has long been in contact with Chinese authorities, including President XI Jinping.
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Musk’s electric vehicle company, Tesla, manufactures its Model 3 and Model Y cars in China and also exports its electric vehicles manufactured in China to markets such as Europe, where sales fell 45% in January.
In addition to Tesla, some of the other musk ventures, including Spacex and the X -ranked social media platform, which is forbidden in China, are seen by Beijing as risks to national security.
