Tesla Inc TSLA CEO Elon Musk’s brief visit to the United Kingdom earlier this week has reignited rumors of a potential electric vehicle manufacturing facility in the country, Electrek reported Thursday.
What Happened: Rumor mills started buzzing last year when Musk visited a site near Bristol with local reports claiming Tesla is looking for a site to build an EV research, development, and manufacturing plant in the United Kingdom.
Musk’s latest visit coincides with the U.K. government’s search for "a major new car plant" location, according to the Electrek report that cited The Daily Telegraph.
Musk previously in an interview with Auto Express revealed the California-based company had been scouting for a possible factory location but had considered it “too risky" to put a Gigafactory in the U.K. due to “Brexit uncertainty.”
Tesla locked on Germany instead to build its first European gigafactory near Berlin.
Why It Matters: The U.K. is turning out to be an important market for Tesla where the electric automaker sold 7,304 electric cars in the last quarter, more than any other European market. The U.K. sales are expected to rise further once the automaker starts making the right-hand-drive Model Y.
See Also: Tesla Model 3 Was UK's Best Selling Battery EV In 2020
The Tesla Model Y, a small electric SUV, will not be available for purchase in the U.K. at least until 2022, according to carwow.
Price Action: Tesla shares closed 4.14% higher at $586.78 on Thursday.
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