According to sources, Tesla has agreed to develop a battery and EV manufacturing in Indonesia - TopForex.Trade

According to sources, Tesla has agreed to develop a battery and EV manufacturing in Indonesia

According to the country’s head of investments, Tesla has committed to developing a battery and electric vehicle facility in Indonesia.

It was reported last week that Tesla was supposed to be close to an agreement for a battery venture in Indonesia following a new round of talks between the manufacturer and the Indonesian government; this wasn’t the first time that rumors of Tesla making a substantial investment in Indonesia had surfaced.

In 2020, we reported that Tesla was in talks with the Indonesian government about establishing a new nickel venture in the nation, which has a large nickel reserve — nickel being one of the primary components needed in the fabrication of cathodes for battery cells used in electric vehicles. Elon Musk, CEO of Tesla, pleaded with mining companies to enhance nickel production.

 

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Later, we heard that Tesla was in talks with Indonesia not only concerning nickel, but also about potentially building a full battery facility in the nation. The talks resumed earlier this month after Tesla dispatched a delegation to Indonesia to meet with the government and Elon Musk met with President Joko “Jokowi” Widodo.

A week later, local media say that Tesla has “agreed” to develop a battery and electric vehicle facility in Indonesia.

Lahadalia clarified that nothing has been “signed,” although he did add that everything has been agreed:

“Tesla, God willing, will reach Indonesia this year. But I can’t reveal the month just yet. Let us pause for a moment because we have yet to sign an agreement. The amount of investment is still being kept hidden, and we are still waiting. But this is important stuff.”

He did not go into depth about the idea, although both a battery factory and an electric vehicle factory were mentioned. Musk previously stated that Tesla intends to announce new factory locations by the end of the year.

 

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