Indonesia receives funding proposal from Tesla: official By Reuters
© Reuters. FILE PHOTO: The logo of the automaker Tesla can be seen in Bern
SINGAPORE (Reuters) – Indonesia received an investment proposal on Friday from US electric vehicle maker Tesla (NASDAQ :), the country’s deputy head of investment and mining coordination, Septian Hario Seto, told reporters.
Indonesia is the world’s largest producer of nickel, a material vital to EV batteries, and has publicly invited Tesla to invest in the country to help develop its ambitious plans for the EV and battery industries.
“I got your proposal yesterday morning … we will meet with you (virtually) next week for an official explanation,” said Septian.
Septian said he was unable to provide details on the proposal due to a nondisclosure agreement but said the focus of their discussions had been on batteries and energy storage solutions.
“If they just want to buy raw materials, we are not interested. This (proposal) goes beyond just taking over the raw material,” he added.
Indonesia, once the largest exporter of nickel, stopped delivering nickel last year to build a full nickel supply chain, from mining to processing into metals and chemicals for batteries to meet demand for electric vehicles.
Tesla said last year it is looking for reliable sources of nickel around the world after warning that the current cost of batteries remains a hurdle to its growth.
Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may suffer from using this data.
Fusion Media or anyone involved with Fusion Media assumes no liability for any loss or damage caused by reliance on the information contained on this website, such as data, offers, charts and buy / sell signals. Please be fully informed about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.