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5 Feb, 2021 08:50

Tesla proposes investment in Indonesia as carmaker seeks reliable source of nickel

Tesla proposes investment in Indonesia as carmaker seeks reliable source of nickel

Indonesia has received an investment proposal from US electric car maker Tesla, according to the country’s deputy head for investment and mining coordination, Septian Hario Seto, as quoted by Reuters.

The official didn’t provide details of the proposal, citing a non-disclosure agreement, but said the discussion was focused on batteries and energy storage solutions.

“I received their proposal yesterday morning ... next week we will meet them [virtually] to get an official explanation. If they only want to buy raw materials, we are not interested. This [proposal] is beyond just taking the raw material,” Septian said.

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Indonesia, the world’s number-one nickel producer, has been working to persuade Tesla that it is a reliable source of the metal needed to lower the cost of battery production for its electric vehicles. The current cost of batteries has had a negative impact on the automaker’s growth.

Once one of the top global nickel exporters, Indonesia stopped shipments last year in an attempt to create a full nickel supply chain, from extraction through processing into metals to the chemicals used in batteries. The step was taken to meet the growing global demand for electric vehicles.

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