Tesla gets Gigafactory incentives offer from South Korea’s  President Yoon

South Korea’s President Yoon Suk-yeol said that Tesla would get “tailored” incentives if it decides to determine its next gigafactory within the country. Elon Musk recently noted that South Korea was a top candidate for the following Tesla gigafactory location. 

“If Tesla, SpaceX or other corporations are considering more investment in [South] Korea, including constructing a gigafactory, the federal government will do our greatest to support the investment,” President Yoon told Reuters.

President Yoon also provided a transient overview of the benefits Tesla would have if it selected to construct in South Korea. 

“We’re preparing a tailored approach to grant some benefits to those specified corporations,” he said. 

Last week, South Korea’s presidential office reported that Elon Musk and President Yoon talked through a video call. During their discussion, the Tesla CEO reportedly told President Yoon that he considered South Korea certainly one of the highest candidates for a Tesla factory in Asia. 

Tesla’s Next Gigafactory

Tesla is anticipated to announce the situation of its next gigafactory by the tip of the yr. Canada is among the many top candidates for the following Tesla gigafactory location. 

Canada has been taking significant steps towards becoming the auto supplier of alternative in North America. Tesla and Canada have already began discussions concerning supply chains and permits, hinting at the potential for a Tesla Giga Canada.

In September, Canada’s Minister of Innovation, Science, and Industry, François-Philippe Champagne, announced that he and his team would go to California to fulfill with an automaker. Champagne appears to be spearheading Canada’s efforts to form a relationship with Tesla. In August, Champagne visited Tesla’s facility in Markham, Canada.

Besides Canada, Indonesia also threw its hat into the ring. Elon Musk has met Indonesia’s President Joko “Jokowi” Widodo just a few times. President Jokowi pitched an end-to-end industry to Tesla, stating that the EV automaker could start from smelting metal to producing batteries and manufacturing cars in Indonesia.  

America’ Inflation Reduction Act (IRA) might influence Tesla’s decision for the following gigafactory location. The IRA would offer as much as $7,500 EV credits to automakers that adhere to the law’s requirements. To qualify for the EV credits, Tesla would must construct something just like an end-to-end industry–just like the one President Jokowi pitched–in North America. 

The Teslarati team would appreciate hearing from you. If you may have any suggestions, contact me at maria@teslarati.com or via Twitter @Writer_01001101.

Tesla gets Gigafactory incentives offer from South Korea’s  President Yoon

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