SUMMARY
- Virtual meeting held between Mongolian Prime Minister and Tesla CEO discussing potential investments and Tesla's expansion into Mongolia.
- Exploration of setting up an electric vehicle battery factory in Mongolia, leveraging the country's vast copper and rare earth elements reserves.
- The conversation also touched upon the introduction of Starlink, a SpaceX-powered satellite communications service, in Mongolia.
In an intriguing development, Mongolian Prime Minister Luvsannamsrai Oyun-Erdene and the maverick CEO of Tesla, Elon Musk, engaged in an online conference on Monday. Their conversation explored the prospects of Tesla's expansion and potential investments into Mongolia, a country known for its vast natural resources.
The key topic of their discourse was the potential for establishing a Tesla factory in Mongolia, dedicated to the production of batteries for electric vehicles. This stems from the strategic advantage of Mongolia’s significant reserves of copper and rare earth elements, both of which are critical constituents in the manufacturing of EV batteries. The Mongolian government, conscious of this asset, has been actively courting international investors.
Mongolia is endowed with a rich vein of minerals, possessing large reserves of copper, gold, and coal. In light of these resources, the Mongolian Government has expressed a strong commitment to engage with international entities to stimulate the inception of novel technologies and bolster investment in the nation.
Furthermore, an official release from the Cabinet Secretariat of the Mongolian Government noted Prime Minister Oyun-Erdene’s endorsement for electric vehicles, appealing to Mongolian citizens to consider their use. This is a crucial step towards accelerating the transition to sustainable mobility in the country.
Interestingly, another highlight of the virtual rendezvous between Musk and Oyun-Erdene was the discussion about introducing Starlink, a satellite communication service powered by Musk's SpaceX, in Mongolia. This development is eagerly awaited, as Starlink had been registered as a company in Mongolia in 2022 and is expected to commence regional operations this year.
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