Tesla eyeing to put up factories in Russia

Elon Musk said Tesla was close to establishing a presence in Russia and was checking on the possibility of putting up factories there.

Addressing an event in Russia online, Musk noted that while Tesla already had production sites in the US and China, it was looking to expand production in other parts of the world.

The Russian Ministry of Industry and Trade said it was delighted that Musk is considering building a factory in their country and noted that it has a number of state support measures.

Russia currently has no successful electric car projects and analysts see slim prospects in the near future, primarily due to poor charging infrastructure.

Russian carmaker Zetta is designing an electric car and plans to launch production this year.