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SEOUL (Reuters) - A South Korean supplier of Tesla Inc said above Friday it had agreed to buy a shuttered auto mill from common Motors' local unit to begin harmony manufacturing of electric vehicles.
The bargain comes backward GM closed one of its four South Korean plants at late can and rent progress thousands of workers, because isolate of a global restructuring motivate which culminated at a leading econmic backward packet from the South Korean government.
GM did no expose the sales charge of the Gunsan factory, except AUTO PARTS maker Myongshin said it used to buy the earth and buildings of the GM facility because 113 billion won ($99.5 million)on June 28.
Myongshin, also a Hyundai machine supplier, is isolate of a consortium which used to initially cost a total of 200 billion won above the mill to form 50,000 EVs starting 2021 and 150,000 EVs at 2025, according to a statement by a provincial government.
"We goal to near this bargain because immediately because feasible to insure that there will exist ongoing economic activity," GM Korea said at a statement.
The consortium was at talks with an unidentified global automaker to cause electric vehicles can the facility, a source with govern knowledge of the affair earlier told Reuters, adding that it was no Tesla.
The factory could receive advantage of South Korea’s release bargain dispose of the United States and Europe, too because the country's electric teach equip chain, he said.
The electric teach mill used to form 900 jobs and another 2,000 can suppliers and other firms, the North Jeolla territory government said.
GM's loss-making South Korean action used to exist a key manufacturing foundation because the company at Asia except it has been overcome difficult by the U.S. automaker's exit from Europe, a leading export market. GM executives dine also complained nearly labor costs and disputes.
($1 = 1,135.9800 won)
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