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Analysis Will South Korea be the next country to host a Tesla gigafactory?ROK economy has a lot to like for automaker, but Elon Musk distractions and labor unions may be difficult to overcome During a virtual meeting with Elon Musk, the head of SpaceX, Tesla and Twitter, President Yoon Suk-yeol raised the possibility that South Korea could be the home of Tesla’s next electric vehicle “gigafactory.” A gigafactory is a lithium-ion battery and electric vehicle component center that supplies battery packs for Tesla vehicles. There are currently five gigafactories worldwide, and Musk apparently hopes to add a sixth to the Asian region to complement the one in Shanghai. Although Musk stopped short of promising it would be in South Korea, he did respondto Yoon’s entreaties by saying he considers Korea a “top © Korea Risk Group. All rights reserved. |





