Elon Musk of Tesla recently had a discussion with the president of South Korea regarding the company's plans for the next Gigafactory. Tesla is considering various locations for the new plant and it appears that South Korea could be on the shortlist.
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Tesla's goal is to produce 20 million vehicles annually by the end of the decade – a significant increase from the current production rate of 2 million per year.
Eight new Gigafactory plants are required to make the ambitious goal feasible, according to Tesla.
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The auto industry should start announcing locations for new vehicle factories soon, since it generally takes a few years to get a plant.
CEO Elon Musk has previously said that Tesla will announce the location of its next Gigafactory by the end of the year and has talked about the next factory in North America.
Tesla is apparently considering the possibility of establishing facilities in Canada, as well as in Mexico, according to a rumor that has been circulating recently.
In a recent virtual meeting, Tesla founder Elon Musk discussed the company's plans to build a new Gigafactory in Asia with South Korean President Yoon Suk Yeol.
The conversation between Musk and Yoon was revealed by the President's office and, while no transcript is available, they revealed some topics of discussion:
- South Korea is the number one investment choice of Tesla, said Musk.
- Yoon heard Musk's plan to build another gigafactory in Asia for the production of electric cars.
- Musk expressed his willingness to actively invest in EV charging infrastructure in South Korea.
- Tesla aims to expand its supply chain partnership with Korean companies.
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South Korea is a promising market for Tesla's electric vehicles, and the company also maintains close relationships with LG and Samsung, two of South Korea's largest companies.
Source of information: electrek.co
