Elon Musk meets with South Korean President Yoon to discuss future Tesla investments

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Tesla CEO Elon Musk and South Korean President Yoon Suk Yeol fulfilled in Washington on Wednesday. The pair mentioned opportunity Tesla investments in South Korea, like quite possibly setting up a gigafactory.&#xA0

It isn&#x2019t the initially time Musk and President Yoon have mentioned the probability of a&#xA0Tesla gigafactory in South Korea. In late November 2022, President Yoon&#x2019s government business office disclosed that the pair talked about Tesla in a video clip get in touch with. At the time, Tesla experienced not disclosed the spot of its upcoming gigafactory, but it was very clear there would be an additional EV manufacturing facility announcement before long. Sooner or later, Tesla declared the building of Gigafactory Mexico.&#xA0

Nonetheless, South Korea&#x2019s President Yoon doesn&#x2019t seem to be phased by Tesla&#x2019s Giga Mexico announcement. President Yoon talked to Musk about what South Korea could supply Tesla. He argued that South Korea was suitable for a person of Tesla&#x2019s gigafactories, introducing that the place experienced chopping-edge industrial robots and remarkably qualified staff.&#xA0

President Yoon also supplied help for Tesla&#x2019s financial commitment, like tax rewards. Throughout final yr&#x2019s conversations, President Yoon was ready to deliver&#xA0“tailored” support&#xA0to providers seeking to devote in South Korea.&#xA0

&#x201CIf Tesla, SpaceX, or other providers are thinking of far more financial commitment in [South] Korea, like setting up a gigafactory, the federal government will do our finest to help the financial commitment,&#x201D President Yoon reported. &#x201CWe are planning a customized tactic to grant some rewards to these specified providers.&#x201D

South Koreans may well be on board with President Yoon&#x2019s initiatives. Retail buyers in South Korea acquired&#xA0$2.8 billion worth of Tesla stock&#xA0by the conclude of 2022. The Korea Securities Depository noted that neighborhood working day traders acquired $160 million value of Tesla shares up via December 27, 2022, even with TSLA&#x2019s downward slide at the time.&#xA0

The Teslarati group would recognize listening to from you. If you have any ideas, make contact with me at&#xA0maria@teslarati.com&#xA0or through Twitter&#xA0@Writer_01001101.

Elon Musk fulfills with South Korean President Yoon to talk about potential Tesla investments





The post Elon Musk meets with South Korean President Yoon to discuss future Tesla investments appeared first on Cars News Magazine.


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