NEW YORK, U.S. – Elon Musk, Tesla and SpaceX CEO, has been invited by Turkish President Recep Tayyip Erdogan to establish the next factory for his electric vehicle company, Tesla, in Turkey, according to the country’s state media. Meeting in New York recently during the United Nations General Assembly, the two explored possibilities for collaboration between Musk’s companies and the Turkish state’s programs.

For years, Turkey has been a significant manufacturing hub for international corporations. During the interaction with Musk, Erdogan highlighted his country’s recent advancements in electric vehicle manufacturing and its position as an attractive choice for the new Tesla factory – potentially the seventh of its kind.

Musk expressed that Tesla already has several Turkish suppliers and that the country ranks high among prospective locations for a new factory. Details of the final decision, expected by the end of the year, are anticipated by industry watchers and market analysts.

Moreover, the discussions extended beyond Tesla’s potential expansion. Proposals for cooperation between Musk’s aerospace enterprise, SpaceX, and Turkey’s space program were also explored. Musk reportedly expressed interest in obtaining necessary permits to operate Starlink, SpaceX’s satellite internet service, in Turkey.

In recent decades, Turkey has been strategically positioning itself as a significant manufacturing hub bridging Europe and Asia. Manufacturing currently accounts for approximately 19% of Turkey’s GDP. Istanbul plans to further enhance this figure to 21% later this year, following its 2023 Industry and Technology Strategy.

Turkey’s technological advances in defense have also been widely recognized. In 2022, Turkey recorded $4.4 billion in arms exports, surpassing some European nations’ annual defense budgets. This figure is aimed to reach $6 billion in 2023, signifying the country’s growing influence in the defense technology sphere.

Despite its manufacturing prowess, Turkey’s economy has been facing difficulties due to foreign currency reserve shortages and currency depreciation. However, the country is addressing these issues and making strides towards investment in Industry 4.0 solutions. Through conversations with influential CEOslike Musk and investment deals with wealthy Gulf Arab states, Turkey aims to attract foreign investment and rejuvenate its economy.