Musk: “It’s Possible” Tesla Would Buy Shuttered GM Factories

December 8, 2018, 12:22 AM UTC

Tesla CEO Elon Musk said in a TV interview that “it’s possible” that his company would buy several General Motors factories that the company has slated to close.

Last month, GM announced plans to close five plants in Ohio, Maryland, Michigan and Ontario in 2019. Additionally, the automaker said it would cut its workforce by 15% and discontinue some of its models.

The move was the company’s biggest reorganization since filing for bankruptcy in 2009, which ended in a bailout by U.S. and Canadian taxpayers. Part of that restructuring included more of a focus on electric cars, news that Musk celebrated in the interview with 60 Minutes.

“The whole point of Tesla is to celebrate the advent of electric vehicles and sustainable transport, try to help the environment, we think its the most serious problem that humanity faces,” Musk said.

If Musk makes good on his statement, it wouldn’t be the first time his company has taken over facilities after closures by other companies—nor the first time the company would take over a plant used by GM.

Tesla’s factory in Fremont, Calif. was previously a Nummi plant, jointly owned by Toyota and General Motors, which at its peak produced more than 350,00 vehicles annually. After GM declared bankruptcy in 2009 and Toyota sold its stake, Tesla bought the plant in 2010 for $42 million.

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