Tesla has entered into an agreement with Indonesia to purchase $5 billion worth of nickel over the next 5 years.
In May, Indonesian president Joko Widodo met with Elon Musk to discuss expanding Tesla’s business relationship with Indonesia, which has the largest economy in Southeast Asia. The government would love for Tesla to build a new factory in the country and perhaps this new business arrangement will make Tesla more receptive to that idea.
“We are still in constant negotiation with Tesla … but they have started buying two excellent products from Indonesia,” Coordinating Minister for Maritime and Investment Affairs Luhut Pandjaitan said in an interview broadcast on Monday. He added that Tesla has signed a five-year contract with nickel processing companies operating out of Morowali on Sulawesi Island.
The government plans to impose export tax on these metals to boost revenue while encouraging more domestic production of higher value products, a senior official toldhas an interesting insight on all this. It says that at the end of July, two Chinese companies — Zhejiang Huayou Cobalt and CNGR Advanced Material Co — announced they would supply Tesla with ternary precursors for battery materials, namely nickel, cobalt, and manganese materials.
If so, those supplies will not be destined for any electric vehicles for sale to America customers, as the new EV incentives contained in the
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