Elon Musk stated that South Korea is among the important candidate countries for EV investments.
Electric car manufacturer Tesla is aiming to increase production by establishing new factories due to the increasing demand for electric vehicles. In particular, the long waiting times of some vehicles, such as 6 months, paved the way for this situation. It seems that the company will make another of these investments in Asian countries.
Tesla plans to invest in South Korea, according to the latest posts. Tesla CEO Elon Musk said in a virtual meeting with South Korean President Yoon Suk Yeol that he considers the country among the best candidates for electric car investment. Although such a statement was made, it was reported that this was not a clear decision and that it should be reviewed in terms of other countries.
We can say that this investment of the company can be well received in other Asian countries such as Indonesia and India. Because with new investments, employment is created in the country and it is easier for many people to find a job. In addition, the taxes paid also make a great contribution to the state.
Considering that the Gigafactory Shanghai in China, with its 1 million production capacity, cannot meet all the demands in Asia, this seems quite logical. According to Reuters, South Korean President Yoon Suk Yeol’s office also conveyed to Tesla that they could increase their cooperation on the supply chain.
According to the information revealed, Tesla aims to buy 10 billion dollars worth of components from the country in 2023. It should also be noted that the company is already working with South Korean battery manufacturer LG Energy Solution. In the future, investments are expected to be made in other continents besides Asia.
