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Indonesia In Talks With Tesla On Future Investment

Indonesia’s government is in early talks with Tesla Inc TSLA.O, a manufacturer of electric vehicles, about a possible investment in the nation of Southeast Asia, a major producer of nickel, an official said.
Indonesia is keen to establish at home a complete supply chain for nickel, especially for the extraction of battery chemicals, the development of batteries, and the eventual construction of EVs.
To promote investment in its domestic industries, it has stopped exports of unprocessed nickel ore.
Read Also: Tesla Buys BMW and Mercedes German Battery Supplier Assembly Line Maker
Ayodhia Kalake, a senior official at the Maritime and Investment Coordinating Ministry, said Tesla had informally reached out to the government about a potential company, but he did not specify what it had in mind.
“It was still an early discussion and was not detailed yet,” Ayodhia said in a statement on Monday.
“We need further discussion with Tesla,” he said, adding that Indonesia has a number of incentives for investment in EVs.
A Reuters email requesting clarification was not immediately replied to by Tesla. Last month, Indonesia said it had secured a contract with South Korean LG Chem Ltd 051910.KS and China’s Contemporary Amperex Technology Ltd (CATL) 300750.SZ to develop a lithium battery plant in the region.
Tesla wants to increase the output of trucks and solar projects and earlier this year its boss, Elon Musk, urged miners to produce more nickel and offered “giant” long-term contracts if mined “efficiently and in an environmentally sensitive manner.”
Read Also: Elon Musk Says ‘By 2021 Tesla Will Be Available in India
Although EVs are supposed to help reduce global carbon emissions, activists are worried that the ecosystem may be affected by the production of EV components and increased mining.
A proposal for waste disposal in the ocean was withdrawn by an Indonesian nickel smelting project being developed by China’s Tsingshan Group and partners to manufacture battery-grade chemicals, a government official said on Friday.

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