© Reuters. FILE PHOTO: Founder and CEO of Tesla Motors Elon Musk speaks during a media tour of the Tesla Gigafactory, which will produce batteries for the electric carmaker, in Sparks, Nevada, U.S. July 26, 2016. REUTERS/James Glover II
(Reuters) -Tesla Chief Executive Elon Musk said on Tuesday that he will stay at the electric car company as long as he is useful amid investor concerns that buying Twitter would distract him from his job at Tesla (NASDAQ:).
When asked about how long he expects to stay at Tesla, he said: “As long as I can be useful.”
He was speaking at the FT Future of the Car 2022 conference.
In late April, Musk clinched a deal to buy Twitter Inc (NYSE:) for $44 billion cash in a transaction that will shift control of the social media platform to the world’s richest person.
He said Tesla does not expect to open additional factories in China in the near future, adding that it will expand its Shanghai factory.
He said China would account for about 30% of Tesla’s total market in the long term.
Reuters reported that Tesla operated its Shanghai plant well below capacity early this week, showing the problems factories face trying to ramp up output under a tightening COVID-19 lockdown.