Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 29 (Reuters)-South Korean President Yoon Xiyue said South Korea will provide "tailor-made" incentives to encourage Tesla to set up an electric car manufacturing plant in the country.

Pexels Yin Xiyue had a video call with Tesla CEO Elon Musk last week. Mr. Yin's office quoted Mr. Musk as saying that South Korea was one of the best candidates for Tesla's new factory.

"if Tesla, SpaceX or other companies consider making more investments in South Korea, including building a Gigafactory, the government will do its best to support the investment," Yin Xiyue said in an interview in his office on Monday.

Yoon said South Korea will provide highly skilled workers and the government will ensure that regulations are consistent with international standards so that foreign companies do not face unexpected financial or regulatory hurdles.

Asked what advantages South Korea can offer to Tesla, Yin Xiyue said: "We are preparing a tailored method to give these specific companies some advantages."

CTOnews.com learned that Tesla had said he would consider building another Gigafactory. The media say Canada, Indonesia, India and Thailand are also possible locations for new factories, but analysts point out that these countries do not have car supply chains like South Korea, although some countries are rich in natural resources, such as nickel.

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