In a social media post today, the billionaire and Tesla, Inc. TSLA Boss Elon Musk revealed that its companies are willing to invest in Argentina, indicating strong support for the country's growth.
“My companies are actively looking for ways to invest in and support Argentina,” Musk said. aware on X, formerly Twitter.
According to the Harvard International ReviewChile, Argentina and Bolivia, collectively referred to as the “Lithium triangle“—they contain more than 75% of the world’s supply under their salt flats. Lithium is a key component in electric vehicle batteries.
Musk's post prompted a response from the Argentine president Javier Milei, WHO shared The Tesla and SpaceX The CEO position again.
It should not be forgotten that Musk has previously expressed his admiration for the Argentine president. JavierMileyTrump's libertarian policies and strong support for private enterprise, Reuters reported. In April, the billionaire welcomed Milei at a Tesla factory in Austin, Texas.
Also Read: Elon Musk is reportedly in talks with India's richest man to help set up a Tesla factory
According to a report According to Statista, Argentina is poised for substantial growth in the electric vehicle market, with projected revenue of $22.2 million by 2024. This growth is anticipated to be driven by an annual growth rate of 10.62% between 2024 and 2029, resulting in an estimated market volume of $36.7 million by 2029.
If realized, Musk's investment in Argentina could catalyze this growth, potentially accelerating the development of the electric vehicle market and improving infrastructure, innovation and consumer adoption in the country.
Price Action: TSLA shares were trading up 0.93% at $252.36 at last check on Tuesday.
Disclaimer:This content was partially produced with the assistance of artificial intelligence tools and was reviewed and published by Benzinga editors.
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