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BREAKING
Sirens are sounding in Tel Aviv and surrounding areas
Israeli military command: We identified missiles launched from Iran
Tunis: The legitimacy created by World War II is crumbling and the future belongs to free peoples of the world
Tunis: We emphasize that the aggression against Iran should not obscure other ongoing crimes, the first of which is the war of extermination against the Palestinian people
Tunis: International legitimacy does not permit or justify aggression against Iran under any cover or title
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Iran: Nur News: An Israeli aerial assault is targeting the region of Parchin, east Tehran
Iran: Iranian TV: Iranian air defenses shot down an Israeli Hermes 900 drone over Markazi Province, central Iran
Nour News, citing Iranian Armed Forces: 20th wave of Operation Truthful Promise 3 successfully targeted three of the Israeli enemy's strategic centers.
Nour News, citing Iranian Armed Forces: The targets struck included Ben Gurion Airport, the Biological Research Center, and command and control centers.

Elon Musk names S. Korea among top candidates for EV investment

  • By Al Mayadeen English
  • Source: Agencies
  • 23 Nov 2022 11:31
2 Min Read

The South Korean President asks Elon Musk to invest in the country amid Tesla's plans to build another electric car manufacturing factory in Asia.

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  • A virtual meeting between South Korean President Yoon Suk-yeol and Tesla founder Elon Musk
    A virtual meeting between South Korean President Yoon Suk-yeol and Tesla founder Elon Musk

South Korean President Yoon Suk-yeol has asked Tesla founder Elon Musk to invest in the production of electric vehicles (EV) in South Korea, the Yonhap news agency reported on Wednesday.

Earlier in the day, Yoon had a virtual meeting with Musk, where he asked the billionaire entrepreneur to "invest in South Korea" amid Tesla's plans to build another electric car manufacturing gigafactory in Asia, the agency reported.

According to Yonhap, Yoon told Musk that he would reform unreasonable regulations that hindered investment by global tech companies.

The South Korean President also affirmed that the government would continue its effort to attract investment from high-tech companies to enhance the country's competitiveness.

On his part, Musk said he considers South Korea as "one of the top investment candidate sites" and explained that before making a decision, a comprehensive review of the investment conditions of candidate countries in Asia, such as personnel, technology level, and production environment, will be conducted, Yonhap mentioned.

Related News

Trump says Musk has 'lost his mind', dismisses peace offering

Trump-Musk feud sends Tesla stock plunging

"We expect to buy components worth more than $10 billion from South Korean firms in 2023 as we significantly expand supply chain cooperation with South Korean companies," Yoon's office quoted Musk as saying.

The Tesla founder said his company buys a lot of South Korean-made components in the field of autonomous driving and artificial intelligence, expressing readiness to actively invest in the South Korean electric vehicle charging infrastructure.

According to Yonhap, Yoon asked for cooperation between Musk's SpaceX company and the South Korean space industry and pointed to the successful launch of the Nuri space rocket this summer.

The virtual meeting between Yoon and Musk comes ahead of a criminal trial in South Korea that questions the safety of Tesla cars, as the automotive company is facing a number of lawsuits by regulators.

However, Indonesia, India, and other governments are already lobbying to win Tesla's next investment in electric vehicle production.

Read more: Musk in court over $56 billion pay package from Tesla in 2018

  • Tesla
  • Elon Musk
  • Yoon Suk-Yeol
  • South Korea

Most Read

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025

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