Indonesia is finalizing agreements with China’s automaker BYD Group and U.S. carmaker Tesla to invest in electric vehicle production facilities in the Southeast Asian country, a senior cabinet minister said. | Reuters
JAKARTA – Indonesia is finalizing agreements with China’s automaker BYD Group and U.S. carmaker Tesla to invest in electric vehicle production facilities in the Southeast Asian country, a senior cabinet minister said on Tuesday.
Indonesia is aggressively promoting investments in batteries and EVs at home to take advantage of its rich nickel resources. Once a major nickel ore exporter, it has banned exports to ensure enough raw materials for investors.“All the biggest car makers in the world will invest here. BYD Group, the number one in the world, Tesla, the number two, Hyundai and so on, they are all finalising deals with Indonesia,” coordinating minister Luhut Pandjaitan said in a meeting with provincial governments.
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