Tesla strikes $5 billion deal to buy nickel products from Indonesia

by SpeedLux
Tesla Inc logo

Tesla has signed contracts worth about $5 billion to purchase materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister said.

The country has been trying to get Tesla to set up a production facility. The country has major nickel reserves.

President Joko Widodo met with Tesla co-founder Elon Musk this year.

“We are still in constant negotiation with Tesla … but they have started buying two excellent products from Indonesia,” said Luhut Pandjaitan, the Coordinating Minister for Maritime and Investment Affairs, in an interview.

He said the automaker signed a five-year contract with nickel processing companies operating out of Morowali in Sulawesi island.

The nickel materials will be utilized in the lithium batteries of the automaker.

The government plans to impose an export tax on these metals to increase revenue while encouraging more domestic production of higher-value products.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More