Let’s talk about some possible places where Tesla will set up its next Gigafactory production plant, we know that for the remainder of this decade the company aims to increase its vehicle production by an average of 50 percent per year until they quantity is not reached.
Tesla vehicles manufactured per year in 2030. To meet that goal, Tesla will need to build eight new Gigafactories over the course of the next eight years, so it’s the hot new rumor overseas that Tesla will be building its next.
Elon Musk recently had a private virtual meeting with South Korean President Yun Sukyol, the two were originally scheduled to meet in person at the B-20 summit in Bali a few weeks ago, but Elon had to stay in the office. The President, he and Elon talked about Tesla’s potential for new.
Investments in South Korea, specifically Elon spoke of his desire to build a second Gigafactory location on the Asian continent, saying that he considers South Korea a top candidate for investment. By investing money in more charging stations, the country has more for Tesla to offer South Korea.
LG Energy is a major Tesla battery supplier headquartered in South Korea, they supply all 2170 battery cells for the Model 3 and Model Y Long Giga Range and performance vehicles manufactured in Shanghai. LG Energy also supplied Tesla’s new 4680 battery cells. committed over $450 million to build its own production line for.
So Tesla already has a local source for safe battery cells which is a huge plus and we’ve seen very healthy ones as well. The EV industry takes hold in South Korea, one of the world’s largest automakers. Both Hyundai and their subsidiary Kia have been producing some great electric cars for the past few years.
Elon reportedly told the president that Tesla is looking to expand its supply chain with South Korean companies and take advantage of more EV components produced in the country. President Yoon, for his part, offered that the government of South Korea would actively work to reform any regulations that cause difficulties for foreign investors doing business in Korea.
The government will do its best to support the investments we are making and a tailored approach to provide some benefits to these designated companies, a supportive government is always good to see and clearly a key to local access The battery supplier would be an advantage for Tesla.
The move to South Korea will also help the company diversify its global export business. Giga is far from being completely dependent on Shanghai but South Korea is still very close to Shanghai so sharing of components and supplies between the two locations is very important. We still have very strong indications that Tesla will set up a Gigafactory location in Canada in the province of Ontario or Quebec, not only that Elon has personally teased that he may honor his Canadian roots with a northern Gigafactory.
We’ve also seen a lot of movement from branches of the Canadian government to attract electric vehicle and battery manufacturing in particular. For the country we know that in September Canada’s Minister of Innovation Science and Industry Francois Philippe Champagne traveled to California to meet with an American automaker, he didn’t specifically say Tesla, but I think we get We don’t even know what he talked about or what the minister said specifically, but we do know that he was circling the September trip.
There are many automakers and they posted this tweet from Japan Canada could be the green supplier of choice for the world when it comes to EVs and the battery industry My message to Toyota and Prime Planet Energy Solutions in Japan this week so We can assume he was working on the same script during the meeting with Tesla executives meant to reference places we know Tesla is actively lobbying.