South Korea’s presidential office revealed that President Yoon Suk-Yeol and Elon Musk conversed about Tesla in a video call on Wednesday, November 23.
In the course of the video call, Elon Musk reportedly told President Yoon that he considered South Korea one in every of the highest candidates for a Tesla factory in Asia, reported Reuters. Because the starting of the yr, Musk has teased that Tesla plans to announce its next gigafactory location by the top of 2022.
Last quarter, just a few documents and occurrences appeared to suggest that Tesla might construct its next gigafactory in Canada. The Minister of Innovation, Science and Industry in Canada, Francois-Philippe Champagne (FPC), confirmed that he held talks with Tesla. Minister Champagne also visited Tesla’s Markham facility in Canada. The Markham site makes machines installed at Tesla gigafactories worldwide.
In August, Tesla lobbyist registry documents in Canada revealed that the EV automaker initiated talks with Canada’s federal government. The records covered possibilities of Tesla exploring manufacturing opportunities in Canada and speeding up permit timelines.
Canada has been working on becoming the worldwide auto industry’s “supplier of selection.” The country is well-positioned to be a robust contender as a top EV supplier in North America, especially after the USA passed the Inflation Reduction Act (IRA).
Tesla Gigafactory in South Korea
Despite the fact that Canada could be a superb move for Tesla with the IRA enacted, the EV automaker may be trying to strengthen its roots in Asia, and South Korea could be a superb selection. Giga Shanghai has been a powerhouse factory for the corporate, making significant contributions to Tesla’s output and funds. Nevertheless, the stress between the USA and China might place Tesla in a precarious position.
South Korea is a really perfect country for one more Tesla gigafactory in Asia. Elon Musk and President Yoon also talked about Tesla stepping up cooperation with South Korea on supply chains, hinting that the EV maker would have a reliable support system for a gigafactory within the country.
Tesla already has strong ties to South Korea. It really works closely with LG Energy Solutions (LGES) to provide batteries. In June, the South Korean battery producer announced plans to speculate $567.76 million to expand production at home. LGES provided Teslarati with details on the expansion, which included plans for a recent assembly that might produce 4680 cylindrical battery cells.
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