Tesla CEO Elon Musk had an important meeting with South Korean President Yoon Suk Yeol in Washington, D.C., on Wednesday during the latter’s six-day trip to the United States.
The Tesla boss requested the meeting to talk with the South Korean President regarding the prospect of a Gigafactory in Korea.
South Korea offers Tesla “active support”
Korean news agency Yonhap reported South Korean President Yoon Suk Yeol’s statement that the country is an ideal area to operate an electric vehicle production plant. It apparently has “world-class manufactured robots and an advanced labor force.”
“Should Tesla decide to invest, we will provide active support in terms of location, workforce and taxes.”
South Korean President Yoon Suk Yeol via Yonhap
In hindsight, President Yoon gave a similar message during their earlier meeting, stating that Korea has a world-class auto industry. He also asserted that the country would endeavor to simplify rules to encourage foreign investment.
However, it appears that he was more forthright in the latest meeting. The President pledged specific direct support for the automaker.
South Korea continues to be a top contender for a Gigafactory, according to Musk, who reportedly responded by saying that he plans to visit the country soon.
Apart from the Gigafactory, President Yoon also expressed interest in Musk’s other company SpaceX to aid the country’s space sector.
See Also:
- Tesla CEO Elon Musk names South Korea as a top candidate for EV investment
- Tesla unveils Model S and X ahead of deliveries in South Korea
- Tesla not featuring in the top 10 stocks in the $1.3 billion Korean EV fund
- Tesla fined $2.2M by South Korea for exaggerating the driving range of its EVs
- Tesla Model 3 is the “most sought-after EV” around the globe
Tesla aims to sell 20 million vehicles by 2030 and plans to increase sales by 50% annually in the near future. However, the automaker will require numerous production plants to achieve that.
