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Musk may buy GM plant to boost Tesla production

Musk may buy GM plant to boost Tesla production

San Francisco: Tesla founder and CEO Elon Musk has shown interest in buying a defunct General Motors (GM) plant to increase production of its electric cars. In an interview with CBS News, Musk said "it's possible" he would purchase a GM factory in North America 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, Tesla bought a plant in Fremont, California in 2010, jointly owned by General Motors and Toyota, for $42 million shortly after it was shut down. GM announced in November they are closing three assembly factories in North America.

"The whole point of Tesla 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 Chairman of Tesla for three years, stepped down in September. He paid a $20 million fine in a deal with the stock market regulatory authority, Securities and Exchange Commission (SEC) to resolve securities fraud charges.

Robyn Denholm from Telstra has been appointed as the Chairwoman of the Tesla Board. Musk, however, remains Tesla's chief executive and the biggest investor.

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