Elon Musk reportedly discussed a Tesla battery factory in South Africa
Elon Musk reportedly discussed with South African President Cyril Ramaphosa the potential of Tesla building a battery factory in South Africa.
The conversation between Musk and Ramaphosa reportedly happened earlier this year, but it was only now reported by Bloomberg.
According to the report, Musk approached the president of his home country to ease regulations and allow Starlink, his satellite-based internet service operated by SpaceX, to operate in the country.
South Africa has rules requiring Starlink to be at least 30% Black-owned to operate, which would likely require SpaceX to partner with locals.
How does Tesla play into this?
According to the report, Musk and Ramaphosa discussed the potential of Tesla to build a battery factory in South Africa as part of a deal to encourage the country to relax its rules to enable Starlink to operate locally.
It’s unclear what kind of “battery factory” they are discussing.
Tesla does produce its own battery cells at Gigafactory Texas, but the production is somewhat limited, and the company is still having issues ramping up. The cells are currently only used in Tesla’s Cybertruck.
The company is also producing battery packs for its electric vehicles and its energy storage business, the latter is expanding much faster than its EV business. Tesla has been building what it calls “Megafactory” to produce its Megapack for energy storage.
Tesla has been rumored to have discussions about building factories in South Africa since 2016, but nothing has come out of it yet.
Electrek’s Take
I’d would take this report with a grain of salt. I doubt that Tesla is currently seriously considering a “battery factory” in South Africa. At best, they have maybe talked about a Megapack factory, but even then, I would see Tesla build such factories in other markets before South Africa.
If Elon indeed talked about a Tesla factory in exchange for allowing Starlink to operate with looser requirements, it does raise interesting questions about how he operates between companies.
It is again flirting with resource tunneling: using a public company under his control to get benefits for his privately owned companies.
But either way, Elon has even clearer examples of resource tunneling.
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AI and Crypto Czar David Sacks speaks with President Donald J Trump as he signs executive orders in the Oval Office at the White House on Jan. 23, 2025 in Washington, DC.
Jabin Botsford | The Washington Post | Getty Images
President Donald Trump signed an executive order on Thursday creating a Strategic Bitcoin Reserve, marking a major shift in U.S. digital asset policy.
White House Crypto and AI Czar David Sacks, a Silicon Valley venture capitalist, wrote in a post on X that the reserve will be funded exclusively with bitcoin seized in criminal and civil forfeiture cases, ensuring that taxpayers bear no financial burden.
According to estimates, the U.S. government controls approximately 200,000 bitcoin, though no full audit has ever been conducted. Trump’s order mandates a comprehensive accounting of federal digital asset holdings and prohibits the sale of bitcoin from the reserve, positioning it as a permanent store of value.
Additionally, the order establishes a U.S. Digital Asset Stockpile, managed by the Treasury Department, to hold other confiscated cryptocurrencies.
Many crypto investors who have supported Trump raised concerns over the weekend after the president said in a post on Truth Social that in addition to bitcoin, ether, XRP, Solana’s SOL token, and Cardano’s ADA coin would be part of a strategic crypto reserve.
“I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve,” bitcoin billionaire Tyler Winklevoss wrote. “Only one digital asset in the world right now meets the bar and that digital asset is bitcoin.”
Ahead of the announcement, Castle Island Venture’s Nic Carter told CNBC that the U.S. committing to a bitcoin-only reserve would “ratify bitcoin as a global asset of consequence, somewhere in the realm of gold.”
“The U.S. is clearly the most important nation in the world, and so their stamp of approval really does a lot for bitcoin,” Carter said, noting that including any digital currencies other that bitcoin would have made it look like another speculative fund.
Ryan Gilbert, a fintech investor, said the move will send a strong message to institutions that bitcoin is here to stay. He said the decision would further distinguish bitcoin from other cryptocurrencies.
“There’s been many folks out there for the past decade and a half that have said bitcoin is the way to go, ignore the other tokens,” Gilbert said. “I do think it will help bitcoin as a token, as an asset, separate itself from all the others as far as the debate is concerned.”
But Gilbert said the U.S. has to be cautious in how it manages the reserve.
“What we don’t want to see is the U.S. actively trading bitcoin,” he said. “A reserve should be a long-term store of value, not something that introduces market-moving speculation.”
Sacks praised the decision, calling it a milestone in making the U.S. the “crypto capital of the world.” He previously noted that the U.S. lost over $17 billion in potential value by selling seized bitcoin prematurely.
Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick will oversee further policy development, with a focus on budget-neutral acquisition strategies for bitcoin, according to Sacks.
WATCH: Solana co-founder opposes Trump’s crypto reserve proposal
Environment
Kia’s EV9 can power your home and save you on energy costs: Watch how easy it is [Video]
![Kia's EV9 can power your home and save you on energy costs: Watch how easy it is [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/03/Kia-EV9-power-home-charger.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
The Kia EV9 is already an impressive electric SUV with its bold design, spacious cabin, and smart technology. Now it’s unlocking another new feature. With the new Wallbox Quasar 2 home charger, Kia EV9 owners can power their homes for up to three days and even save on energy costs. Watch how easy it is to use in the demo below.
Kia EV9 can now power your home with V2H
Wallbox opened orders for its new bi-directional charger, the Quasar 2, for Kia EV9 owners this week. The Quasar 2 is the first home charger that works with the electric SUV to unlock its Vehicle-to-Home (V2H) capabilities.
EV9 owners can use their vehicle as a power source during power outages. You’ll need the Quasar 2 charger and Wallbox Power Recovery Unit, which can provide backup power for up to three days.
The Quasar 2 starts at $6,440, including the Power Recovery Unit, not including taxes and installation fees. EV9 owners can sign up for the waitlist here with a $100 deposit.
Pre-orders will initially be limited to residents of California, Texas, Florida, New York, Washington, New Jersey, and Illinois, but the company plans a nationwide rollout. Once the units are available, pre-order customers will have first access, with shipping to follow soon after.
According to Wallbox, the Quasar 2 and Power Recovery Unit can save you up to $1,500 per year on energy costs.
As an all-in-one solution, the unit enables you to charge your EV with solar energy (solar panels are sold separately) and store it in your vehicle’s battery. During peak hours, you can use the energy to power your home to save on energy costs. With pre-set scheduling, you can also automatically charge your EV9 when the rates are the lowest.
All of this can be easily utilized on the Wallbox App, allowing you to switch between grid/solar to vehicle and vehicle-to-home.
To demonstrate how easy it is to use, Wallbox put together a video showing the Kia EV9 using the Quasar to power several home devices.
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Honda’s new S7 electric SUV is surprisingly stylish and affordable, but you can’t have it
Honda officially launched its new electric SUV, the S7, in China. As its first high-end electric SUV, Honda says the S7 will set new benchmarks with over 400 miles (650 km) of driving range, first-class comfort, and a stylish new design. The S7 will compete with the Tesla Model Y and other premium electric SUVs in China, starting at about $36,000.
Meet the Honda S7 electric SUV
Honda’s joint venture in China, Dongfeng-Honda claimed “the surge is about to break out” after teasing the S7’s new styling last month. On Thursday, the company officially launched its new electric SUV.
The S7 will be key to Honda’s comeback in the world’s largest EV market. Honda’s new electric SUV is now available starting at 259,900 yuan (about $36,000).
In terms of size, at 4,750 mm long, 1,930 mm wide, and 1,625 mm tall, the S7 is about the same size as the Tesla Model Y (4,797 mm long, 1,920 mm wide, 1,624 mm tall).
Honda designed the SUV from the ground up for buyers in China, claiming it offers better driving, more fun, and more style. The electric SUV wears Honda’s new “H Mark,” exclusive for its next-gen EV lineup. Other design elements include a light-up H logo up front, a foot-sensing electric tailgate, and retractable door handles.
Inside, the S7 is Honda’s first with a dimming panoramic sunroof. With a 2,930 mm wheelbase, it has a spacious interior with up to 860 mm of second-row legroom.
Several premium features include a 3-spoke multi-function leather steering wheel, streaming media rearview mirror, a fragrance system, and BOSE sound system.
Loaded with the latest software and connectivity tech, the S7 has “Honda’s most powerful smart cockpit” with split 12.8″ and 10.25″ smart infotainment screen and 9.9″ instrument display.
Honda Connect 4.0 provides an AI Voice Assistant, multi-screen linking, and continuous improvement with AI. Meanwhile, Honda Sensing 360+ includes ADAS features like active cruise control, pre-collision warning, lane keeping assist, parking assist, and a 360-degree panoramic imaging system.
It’s available in both single-motor (RWD) and dual-motor (AWD) options. The RWD variant includes a 268 hp (200 kW) electric motor and an 89.8 kWh NMC battery pack, good for a 650 km (404 miles) CLTC range.
With an added front motor, the AWD S7 packs up to 469 hp (350 kW) and is rated with 620 km (385 miles) CLTC driving range.
In comparison, the new Tesla Model Y RWD first edition starts at 263,500 yuan ($36,200), with a CLTC range of up to 593 km (368 miles). The Long-Range AWD model, with a CLTC range of up to 719 km (447 miles), starts at 303,500 yuan ($42,000).
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