Elon Musk: Optimistic of long-term future in China

Tesla CEO Elon Musk has given an interview to CCTV to promote the U.S. electric carmaker starting the construction of its first overseas factory in Shanghai on Monday.

Asked about China's opening up policies, Musk said "the opening up policies have been steady moving towards opening and we feel very optimistic about the long-term future. We think the direction has been great."

Musk also says he's not worried about a short-term drop in China's vehicle market, arguing that by the middle of next year, the automobile market will return to strong growth.