South Korea ready to offer "tailored" incentives to attract Tesla plant
Nov.29,2022
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Asian Tech Press (Nov 29) -- South Korea is ready to offer "tailored" incentives to attract Tesla Inc. to build an electric car manufacturing plant in the country, according to Reuters.

South Korean President Yoon Suk-yeol had a video call with Tesla CEO Elon Musk last week, and Yoon's office quoted Musk as saying that South Korea is one of the best candidates for a new Tesla factory.

In an interview at his office Monday, Yoon said, "If Tesla, SpaceX or other companies are considering more investments in Korea, including constructing a gigafactory, the government will do our best to support the investment."

When asked what advantages South Korea could offer to Tesla, Yoon said, "We are preparing a tailored approach to grant some advantages to these specific companies."

Tesla has previously said it would consider building another gigafactory. Media outlets have said Canada, Indonesia, India and Thailand are also possible sites for the new factory, but some analysts pointed out that these countries do not have the same automotive supply chain as South Korea, although some are rich in natural resources, such as nickel.

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