Elon Musk, the quintessentially unconventional CEO of Tesla, recently engaged in exploratory discussions with the Mongolian government. The topic of conversation centered around Tesla’s potential expansion into Mongolia, leveraging the nation’s abundant copper and rare earth mineral resources.
This move is part of Musk’s strategy to solidify his position as a global visionary and leader. Despite a history of unpredictable ventures, this new endeavor has managed to surprise both supporters and critics.
The Mongolian government has confirmed these digital discussions. Mongolian Prime Minister Luvsannamsrai Oyun-Erdene described the talk as a productive and insightful discussion on Twitter on June 7. He revealed that the dialogue encompassed a range of topics, including the prospect of internships for Mongolian engineers at Tesla and leveraging Mongolia’s rich mineral resources for electric vehicle and battery manufacturing.
Despite being a landlocked nation wedged between Russia and China, Mongolia boasts significant reserves of untapped minerals such as copper, coal, gold, iron, uranium, and rare earths. These minerals are integral components in the manufacture of wind turbines, electrical circuits, and solar panels. Consequently, the mining sector contributes a quarter of the country’s economy, earning Mongolia the nickname “Asia’s geological vault.”
The digital discussion, which occurred on June 5, also highlighted potential areas for further collaboration, including green technology development, investment opportunities in Mongolia, promotion of electric vehicle use, and educational advancements.
The Mongolian government has expressed a keen interest in this potential partnership, offering Tesla tax breaks and public assistance if the company expands into the country. Prime Minister Oyun-Erdene also encouraged Musk to investigate the joint use of copper and rare earth elements in Tesla’s products, particularly in electric engines for large-scale mining vehicles.
Securing minerals from Mongolia would be a monumental win for Tesla as global automakers scramble to secure supplies of raw materials essential for battery development. Battery costs significantly impact the affordability of electric vehicles, making this a critical issue in their widespread adoption.
Starlink, the satellite internet access service developed by SpaceX, Musk’s other flagship company, also featured in the discussions. Starlink has morphed into a symbol of soft power for Musk, offering connectivity lifelines to remote or landlocked regions and populations under oppressive regimes.
In a testament to the burgeoning relationship between Musk and Mongolia, Prime Minister Oyun-Erdene invited Musk to attend the Mongolian Economic Forum in July 2023.
Musk’s recent engagement with Mongolia complements his growing list of global interactions. His ongoing dialogue with international powers like French President Emmanuel Macron, Israeli Prime Minister Benjamin Netanyahu, Indian Prime Minister Modi, and the Chinese government continues to establish Musk as a business figure with an unparalleled global influence.
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