Elon Musk says ‘Turkey among most important candidates’ for next Tesla factory

on Sep 18, 2023
  • Recep Tayyip Erdogan met with Elon Musk over the weekend.
  • A summary of what Turkish President discussed with the billionaire.
  • Tesla shares are currently up about 150% versus the start of 2023.

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Recep Tayyip Erdogan – the President of Turkey wants Tesla Inc (NASDAQ: TSLA) to set up its next factory in his country.

Erdogan recently met with Elon Musk

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President Erdogan met with Elon Musk over the weekend on his visit to the United States for the UN General Assembly, as per Anadolu – a Turkish state-run news agency.  

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Recalling that with the Turkish electric car Togg hitting the roads in Turkiye, Tesla entered the Turkish market, Erdogan called on Tesla to establish its seventh factory in Turkiye.

Earlier this year, France and Spain were reported lobbying to secure that investment from Tesla as well. The electric vehicles behemoth is currently building a factory in Mexico.

Its shares are currently up close to 150% versus the start of this year.

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What else did Erdogan and Musk discuss?

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President Erdogan invited Elon Musk to Teknofest and discussed with him a possible collaboration between Turkey’s Space Agency and SpaceX as well.

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According to Anadolu, the billionaire also showed interest in bringing Starlink to the country of 85 million that has positioned itself as a prominent manufacturing hub in recent decades.

Most importantly, though, the state-run agency claims him as counting Turkey “among the most important candidates” to build the next plant for Tesla Inc. The EV giant is yet to officially comment on today’s development.  

The news arrives shortly after reports that the multinational had trimmed its production target in Berlin (find out more). Wall Street currently has a consensus “overweight” rating on Tesla stock.

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