Elon Musk's discussing Starlink & Tesla deal with South Africa
12/31/2024 06:00 AM
Elon Musk and South Africa's President Cyril Rmaphosa have been discussing the potential of Starlink and Tesla coming to the billionaire's country of origin.
Musk has reportedly asked Ramaphosa to ease regulations, requiring businesses in South Africa to be at least 30% Black-owned through sharing equity with local partners. Without Ramaphosa's leniency on the regulation, SpaceX's Starlink would have to comply with the requirements.
In exchange for easing regulations for Starlink, President Ramaphosa and other South African officials are allegedly requesting Musk to guarantee that Tesla would build a battery production facility in the country. A Tesla battery production facility would ensure the company makes local investments in South Africa and generate jobs.
In September 2024, Musk met with President Ramaphosa in the United States.
"I have had discussions with him and have said, Elon, you become so successful, and you're investing in a variety of countries; I want you to come home and invest here. He and I are going to have further discussion," President Ramaphosa told Elon Musk in September.
Details about Musk and Ramaphosa's discussions were first reported by Bloomberg.
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