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Musk may buy GM plant to boost Tesla production

IANS  |  San Francisco 

founder and has shown interest in buying a defunct (GM) plant to increase production of its electric

In an interview with CBS News' "60 Minutes" on Friday, Musk said "it's possible" he would purchase a GM factory in if the company is "going to sell a plant or not use it".

"It's possible that we would be interested if (GM) are going to sell a plant or not use it that we would take it over," Musk said.

According to Washington Examiner, bought a plant in Fremont, in 2010, jointly owned by and Toyota, for $42 million shortly after it was shut down.

GM announced in November they are closing three assembly factories in

"The whole point of is to accelerate the advent of electric vehicles sustainable transport and trying to help the environment. It's the most serious problem that humanity faces," Musk said.

Musk, who was the of Tesla for three years, stepped down in September.

He paid a $20 million fine in a deal with the stock market regulatory authority, (SEC) to resolve securities fraud charges.

from has been appointed as the of the Tesla Board. Musk, however, remains Tesla's and the biggest investor.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, December 08 2018. 10:34 IST