Tesla Gigafactory’s Next Location Might be in South Korea

Tesla Gigafactory's potential location might be in Asia, specifically in South Korea, which Elon Musk previously hinted was the top candidate.

The government of South Korea appears to be luring the giant electric vehicle (EV) maker to set up its next production facility in the Asian country.

Given that, there might be a chance that Tesla is entering another Asian country.

Tesla Gigafactory's South Korea Location

As per a recent report by Tesla North, citing a story from Korean Economic Global, South Korea is now enticing the giant automaker to open up its second Asian Gigafactory in the country.

The report claims that no less than the Ministry of Trade, Industry, and Energy of South Korea is now spearheading the move. It is now finalizing which locations would be considered for the potential Gigafactory in the country, anonymous sources say.

As of writing, the Ministry of Trade, Industry, and Energy is reportedly working with the local authorities in Korea. And before this year ends, Tesla might learn about this information straight from the Ministry.

Tesla North reports that an official from the Ministry states "it is a step to give more information by providing more options to Tesla." However, the official notes that the giant EV maker of Musk "has already identified some sites" in South Korea.

Despite that, the Ministry official reportedly said they have "found some competitive sites that we have not even thought of before." So it appears that they are gearing up to share these locations with the EV maker before 2022 ends.

Incentive in South Korea?

According to a recent story by Teslarati, the President of South Korea, Yoon Suk-yeol, recently gave Tesla "tailored incentives."

These benefits might just help the EV maker further decide its next Gigafactory location.

It is worth noting that the Chief Executive Officer (CEO) of Tesla Musk previously disclosed that none other than South Korea was the top candidate for the next Tesla Gigafactory.

A report from Reuter revealed that the big boss of Tesla and the South Korean president was recently on a video call.

Yoon revealed that the Tesla boss said that Musk considers South Korea as the top candidate for the factory location of the giant EV maker.

"We are preparing a tailored approach to grant some advantages to these specified companies," further told Reuters, explaining the benefits it can offer Tesla if ever it sets up its facilities in the country.

All that said, it seems that the giant automaker is highly considering South Korea as its upcoming production location. Not to mention that the incentives might help seal the deal. But do take this with a grain of salt as Tesla has yet to publicly share its decision.