Salem Radio Network News Monday, September 25, 2023

Business

Factbox-Tesla courts interest from Turkey to India for next gigafactory

(Reuters) – Tesla’s plan to expand its global manufacturing footprint has sparked a race among some countries to woo CEO Elon Musk and secure billions in investment dollars.

Turkish President Tayyip Erdogan on Monday asked Musk to build a manufacturing plant in his country. Hours later, the Wall Street Journal reported that Saudi Arabia was in early talks with Tesla to set up factories in the Kingdom.

Musk said in May that Tesla would probably pick a location for a new factory by the end of 2023.

IN THE RUNNING

Saudi Arabia: Saudi has been luring Tesla with the right to purchase certain raw materials from countries, including the Democratic Republic of Congo, the Journal reported. Musk denied the report.

Turkey: Turkey’s communications directorate cited Musk as saying that the country was among the most important candidates for its next factory.

India: Tesla has expressed interest in building a factory in the country, to produce low-cost electric vehicles (EVs) for the local market and for export.

UPCOMING FACTORIES

Mexico: Tesla is building a factory in Mexico’s northern border state of Nuevo Leon. A Mexican state governor said Tesla and its suppliers would invest $15 billion over the next two years in the facility, triple the previously announced amount.

EXISTING FACTORIES

LOCATION PRODUCTS MADE AT THE FACTORY

Fremont, California Model S, Model X, Model 3 and

Model Y

Sparks, Nevada Tesla Semi, electric motors,

batteries and powertrains

Buffalo, New York Builds solar roof, solar panels

and electrical components for

superchargers

Austin, Texas Model Y and Cybertruck

Shanghai, China Model 3 and Model Y

Grunheide, Germany Model Y, battery cells

Lathrop, California Capable of producing 10,000

Megapack units every year

(Reporting by Jaspreet Singh and Arsheeya Bajwa in Bengaluru; Editing by Devika Syamnath)

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