South Korea angling for Tesla funding – Muricas News

Based on Yoon’s cupboard, Musk is alleged to have mentioned that he sees South Korea as one of many prime funding candidates. The Tesla CEO will solely decide after he has examined the funding circumstances – together with the native labor market and out there know-how – of a number of Asian nations.

Musk desires to construct a brand new mega manufacturing unit for the manufacturing of Teslas in Asia. There may be at present one in Shanghai, the producer of which just lately elevated its manufacturing capability to 1 million automobiles per 12 months.

Moreover, in response to Seoul, the world’s richest man confirmed willingness to actively put money into charging infrastructure in South Korea. Tesla would additionally enter into extra contracts with South Korean suppliers: Musk expects elements purchases from South Korea to develop to no less than $10 billion in 2023. Tesla at present already has agreements with LG, amongst others.