President Yoon Suk-yeol has requested Tesla CEO Elon Musk to construct an electrical car plant in South Korea throughout a digital assembly with the billionaire entrepreneur. Musk stated he’s contemplating South Korea as one of many high funding candidates.
Yoon made the request after Musk defined Tesla’s plans to construct a gigafactory in Asia to supply completed EVs, and the CEO responded positively, the workplace stated in a press launch.
“President Yoon defined South Korea’s world-class auto business ecosystem and funding situations, and requested that he put money into South Korea,” it stated, reviews Yonhap Information Company.
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“In response, Musk stated he’s contemplating South Korea as one of many high funding candidate websites, and that he plans to resolve following a complete evaluation of Asian candidate nations’ funding situations, together with human and technological abilities, and their manufacturing surroundings.”
Musk additionally stated Tesla is a big purchaser of excellently made South Korean elements for its autonomous driving and synthetic intelligence merchandise and expressed a dedication to investing in South Korea’s EV charging infrastructure, in line with the workplace.
He additional estimated that the overall worth of elements purchases from South Korean companies will exceed $10 billion subsequent yr, it stated.
Yoon praised Musk for his successes within the EV and house industries, saying South Korea is working to develop its house business from all sides. He talked about the profitable launch of the homegrown house rocket Nuri in June and referred to as for cooperation between Musk’s SpaceX and South Korean house companies.
“President Yoon stated that if there are unreasonable rules hindering world high-tech innovation companies’ funding in South Korea, he’ll reform them to be according to world requirements,” his workplace stated.
The digital assembly got here after Musk canceled his journey to Bali, Indonesia, earlier this month, the place the 2 had been scheduled to satisfy in individual, it stated.
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