Elon Musk Calls South Korea The Top Candidate For EV Investment

JAKARTA - Tesla's big boss Elon Musk is considering where they will build another manufacturing site, while manufacturing in Germany and Texas is increasing production.

Launching from InsideEVs, in a recent virtual event with South Korean President Yoon Suk Yeol, Elon Musk said, it is likely that the next gigafactories will likely be built in Asia and South Korea has a great opportunity to attract investment.

Although there has been no definite decision regarding EV investment, Musk considers South Korea the top country candidate for EV investment.

"However, a decision has not been made and any investment will require a review of investment conditions in other countries," Musk added.

As we previously know, Tesla Giga Shanghai in China is currently the world's largest electric car factory with an output that may exceed 1 million units per year.

According to Reuters, Yoon's office also mentioned that Tesla may increase cooperation with South Korea in supply chains.

This electric car brand has indeed done a lot of cooperation, one of which is with the LG Energy Solution, which supplies cylindrical lithium-ion cells type 2170 to Tesla and is involved in developing a cylindrical format of type 4680, which was originally to be produced in South Korea.

According to the article, in 2023 alone, Tesla hopes to buy more than $10 billion worth of components.