Elon Musk, CEO of Tesla Motors, a global leading electric vehicle manufacturer, said that he is willing to participate in Korea’s automotive convergence alliance projects and enter the new energy business market such as solar power and home battery called the Powerwall.
The Ministry of Trade, Industry and Energy announced on November 16 that Minister of Trade, Industry and Energy Joo Hyung-hwan met with Musk in Los Angeles on the 14th during his visit to Latin America and talked about the car industry and new energy businesses.
At the meeting, Joo asked Tesla, which is currently collaborating with 30 automotive parts and equipment firms, to expand partnerships with Korean companies and investment in them.
He also said, “The Korean government helps automakers to expand convergence with other industries through the Automotive Convergence Alliance. We hope that Tesla will consider joining the alliance as the company has tapped into the Korean market.”
The Automotive Convergence Alliance supports cooperative businesses between domestic automakers and other firms, including automotive components provider, ICT service firms and battery manufacturers. The alliance was launched in December last year and is now participated in by about 150 firms.
In addition, Joo said, “As Korea has conducted a dramatic regulatory reform and intensive support activities, the nation is achieving the results in the new energy industry. The building integrated photovoltaic system, which generates power using windows at houses and rooftops of the buildings, is a promising business in small countries in where large-scale solar power complexes are hard to be built, like Korea.” In this regard, Musk said, “The company has a great working relationship with Korean firms now and it can create various business models by expanding the partnerships in the future.”