June 8, 2023: On Monday, Mongolia’s prime minister Luvsannamsrai Oyun-Erdene and Elon Musk were concerned regarding potential expansion and investments into the Asian country over a virtual meeting.

“They discussed the possibility of welcoming Tesla to Mongolia for its electric vehicles battery factory, leveraging the country’s wide availability of copper and rare world elements, which are essential components of electric cars’ batteries,” according to a statement issued on behalf of the Mongolian government.

The East Asian country is wealthy in minerals and boasts large copper, gold, and coal deposits.

“The Mongolian State is committed to cooperating with international organizations to help boost the growth of new technologies and raise investment in the country,” the statement said.

A statement from the cabinet secretariat of Mongolia’s government added that the country’s prime minister emphasized his support for using electric cars and encouraged Mongolian citizens to use such vehicles.

Musk and Oyun-Erdene also spoke about bringing Starlink, a satellite communications terminals and services provider operated by the Musk-founded SpaceX, to Mongolia. Starlink was registered as a company in Mongolia in 2022 and is anticipated to launch regionally this year.

Musk’s meeting with the Mongolian leader comes after last week’s tech giant met with Chinese vice premier Ding Xuexiang and other top officials in China. Beijing looks to portray a friendly business environment for foreign firms amid tensions with the U.S.

The Tesla CEO hailed China’s technical advancements and saw the Tesla gigafactory in Shanghai.