Breaking News
Investing Pro 0
💎 Access the Market Tools Trusted by Thousands of Investors Get Started

Turkish President Erdogan asks Musk to build Tesla factory in Turkey

Published Sep 17, 2023 07:52PM ET Updated Sep 18, 2023 10:51AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Elon Musk gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, France, June 16, 2023. REUTERS/Gonzalo Fuentes/File Photo
 
TSLA
-0.25%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Chandni Shah and Daren Butler

ISTANBUL (Reuters) -Turkish President Tayyip Erdogan asked Tesla (NASDAQ:TSLA) CEO Elon Musk to build a Tesla factory in Turkey, the country's communications directorate said on Monday.

It cited Musk as saying that many Turkish suppliers are already working with Tesla and that Turkey was among the most important candidates for its next factory.

Tesla did not immediately respond to requests for comment.

Erdogan and Musk were speaking during a meeting at Turkish House, a skyscraper near the United Nations in New York, Turkey's state-owned Anadolu news agency reported.

Erdogan is in the U.S. to attend the 78th session of the U.N. General Assembly.

Erdogan also said during the meeting that Turkey was open to cooperation on artificial intelligence and Starlink, the satellite internet venture of Musk's SpaceX, the communications directorate said.

It cited Musk as saying SpaceX wished to work with Turkish authorities to obtain the necessary licence to offer Starlink satellite services in Turkey.

It also said Erdogan invited Musk to attend Turkish aerospace and technology festival Teknofest in Izmir at the end of September and cited Musk as saying he would gladly attend.

Musk is also set to meet Israeli Prime Minister Benjamin Netanyahu in California on Monday. Musk posted on social media platform X that their talks would focus on artificial intelligence technology.

Tesla in August expressed an interest in building a factory in India that would produce a low-cost electric vehicle.

Tesla currently has six factories and is building a seventh in Mexico in northern Nuevo Leon state, part of the automaker's push to expand its global footprint.

Musk said in May that Tesla would probably pick a location for a new factory by the end of this year.

Tesla shares are up 123% so far this year and the automaker on Saturday said it had produced its 5 millionth car.

In addition to running Tesla, Musk also bought X, formerly known as Twitter, for $44 billion in 2022.

While describing himself as a free speech absolutist, Musk has complied with some demands by the Turkish government to censor content in the country. In other cases, the social media company has objected to orders by the Turkish courts.

Turkish President Erdogan asks Musk to build Tesla factory in Turkey
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (12)
Josephine Panta
Josephine Panta Sep 19, 2023 1:00PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
it's better build another factory in Turkey even a dangerous place earth quake a happened a higher value of Tesla company
Ken Roth
Ken Roth Sep 18, 2023 12:55PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Why invest in turkey when they continue to play with swedish nato membership?
Atlantic Coast Money
Atlantic Coast Money Sep 18, 2023 12:36PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Turkey is desperate. Corruption is unreal. Elon knows better.
Don Getty
Don Getty Sep 18, 2023 12:15PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
lets build a plant in a country close to being a dictatorship - what could go wrong
Aaron Newday
Aaron Newday Sep 18, 2023 10:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I wouldn't be surprised if Erdoğan, who has seized many large enterprises in Turkey through judicial and state means, seizes the Tesla factory with the same formula!!!
Serdar ooz
Serdar ooz Sep 18, 2023 9:26AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
turkish manufacturing cost are getting cheaper every day bcuz of turkish lira dropping. great oppurtunity to enter now.
Tre Hsi
Tre Hsi Sep 18, 2023 9:26AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yeah, let's build a mega factory in a country with annual inflation of 20% or more and next to 2 war zones (Syria and Urkaine), what can possibly go wrong
zhang ailun
zhang ailun Sep 18, 2023 7:41AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Turkey has also joined the new energy market, which broadens prosperity. In this way, the charging sector will rise needs. Focus on NaaS (NASDAQ:NAAS), one of the world's leading charging companies.
Izaak Salman
BondBonds Sep 18, 2023 6:36AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Great deal actually
Francis Dagostino
Francis Dagostino Sep 18, 2023 6:32AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
build Tesla factory in Turkey...... No freaking way.
Ge K
Ge K Sep 17, 2023 10:17PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Do it Elon!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email