Tesla is expected to choose the location for its next factory by the end of the year, Elon Musk announced at an event on Tuesday, with India, South Korea and Indonesia in the running.

<div class="block">Tesla is expected to choose the location for its next factory by the end of the year, Elon Musk announced at an event on Tuesday, with India, South Korea and Indonesia in the running.</div>

Closing Bell

Tesla to Decide on Next Factory's Location by 2024

And moving on over to another Elon Musk company, Tesla expected to choose the location for its next factory by the end of the year, Musk made the announcement at an event on Tuesday and signs point to India while other possible locations include South Korea and Indonesia. It is the latest move away from China as Tesla continues its expansion, the giant runs facilities in the US, Germany and China and plans are in the works for another factory in Mexico. Tesla stocked down about 1%. Well, Tesla has held discussions with Indian officials in the past including about manufacturing incentives. A growing number of American companies have increased operations in India, for example, apple, building up production facilities there in order to limit manufacturing in China.