Elon Musk names S. Korea among top candidates for EV investment – Yoon’s office

Adds statement from presidential office

SEOUL, Nov 23 (Reuters)Tesla TSLA.Ochief executive Elon Musk said on Wednesday that South Korea was among its top candidate locations for a giant factory it plans to build in Asia for making electric vehicles (EVs), according to South Korea’s presidential office.

Musk had made the remark in a video call with President Yoon Suk-yeol, adding that the company planned to step up cooperation with South Korea on supply chains, Yoon’s office said.

The president asked Musk to build the planned Asian factory in South Korea.

In response, Musk said he considered South Korea to be one of the top candidates and would make the decision after reviewing investment conditions in other countries, including labour quality, technology level and production infrastructure.

“We expect to buy components worth more than $10 billion from South Korean firms in 2023 as we significantly expand supply chain cooperation with South Korean companies,” Yoon’s office quoted Musk as saying.

(Reporting by Soo-hyang Choi; Editing by Muralikumar Anantharaman and Bradley Perrett)

((soohyang.choi@thomsonreuters.com;))

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