(Yicai Global) June 1 -- Tesla Chief Executive Elon Musk has finished his China trip after visiting the American electric vehicle maker's Shanghai Gigafactory and insiders predict the world’s richest man is preparing to reveal new investment plans.

Tao Lin, Tesla’s global vice president, posted two photos of the CEO paying a visit to the California-headquartered company's first overseas Gigafactory on her Weibo yesterday. "Thank you for all your support! A rewarding day!" she wrote.

Musk’s private jet was scheduled to leave Shanghai this morning for Austin, Texas, according to flight tracking platform Variflight. Tesla China did not disclose to Yicai Global where exactly the online celebrity is headed next.

A source familiar with the matter told Yicai Global that Musk was expected to sign important agreements during his visit to China, and those may be announced in the coming days.

Industry insiders predict the visit was prompted by the new energy vehicle maker's plan to expand the plant and mass-produce its updated Model 3s in Shanghai. It could also prepare the firm to build its upcoming production base for Megapack vehicle batteries in the eastern city and pave the way for more advanced autopilot technologies and energy storage products to enter China.

Tesla needs the economies of scale that China provides to maintain its cost advantage globally, but in order to sustain the advantage, it must make sure it remains relevant in the Asian country, according to Bill Russo, founder of consultancy firm Automobility.

The Twitter owner arrived in Beijing on May 30 and met up with officials from the State Council, the Ministry of Industry and Information Technology, and the commerce ministry, as well as Zeng Yuqun, chairman of battery giant Contemporary Amperex Technology.

Musk has become the world’s richest man again as his current net worth is about USD192.3 billion, higher than that of Bernard Arnault, president of luxury conglomerate LVMH, US Fortune magazine reported today, citing the Bloomberg Billionaires Index.

Editor: Emmi Laine