Musk shows interest in buying gen-to-close GM plants for Tesla | CTV News

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Published Sunday, December 9, 2018 11:49 AM EST

Last Updated Sunday, December 9, 2018 12:50 PM EST

Elon Musk says he can buy soon-to-be-closed General Motors factories and start collecting Tesla within them.

Musk made the remarks in an interview with CBS "60 Minutes", saying he would be interested in purchasing some of the five facilities GM plans to stop using by the end of 2019.

A controversial figure known for making a statement, Muscat may well be serious about exploring an interest in the GMC factories, according to one analyst.

"It's always hard to say with Elon, he's afraid of the cuff, and it's a really thought-out strategy," said Mitchell, a professor of strategic management at the Toronto Rotman School Management, said CTV News Channel Sunday.

In that case, Mitchell said, it may be serious to Muscat's claims because Tesla is delivering more vehicles than ever before and running its production limits in its existing plant in California.

"There is a demand for tesla and electric vehicles in general, they need more production capacity," he said.

One of the five facilities Earmarked for Closing by GM is the assembly plant in Oshawa, dress.

Michel has said that it was a "very low" occasion that Oshava would be one of the expansion targets for Tesla, given the difficulties of cross-border manufacturing and other issues.

"It's a huge plant, they're not ready to go to the scale of production yet," he said.

"Never say never, but it's unlikely."

In addition, Michel has said that the Oshava plant needs significant retooling in order to produce electric vehicles. GM has quoted a company-wide move to electric vehicles as one of the reasons it left Oshava.

An estimated 2,500 jobs will be lost in Oshawa, when GM ceases operation in that city.

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