Indonesia Still in Talks with Tesla, its President Says

Indonesia Still in Talks with Tesla,  its President Says

Credit: Bloomberg

  • Indonesia's president said the country is still in negotiations with Tesla.
  • It was previously reported that the manufacturer would not invest in Indonesia due to the unfavorable economic situation.

Tesla is still in talks with Indonesia about investing in the Southeast Asian country, President Joko Widodo told Haslinda Amin in a wide-ranging interview on Latitude, a new Bloomberg show. He did not go into detail about the discussions with the company. However, with his statement, the president confirmed that Tesla may consider investing in the country in the future when the economic situation becomes more favorable.

In early September, it was reported that Indonesia did not expect Tesla to invest in the country anytime soon. This was announced after a meeting between the coordinating minister for maritime affairs and investment Luhut Panjaitan and Elon Musk in August. Then he shared what was discussed during the meeting. Tesla has made it clear that it has no plans to invest in international production sites in the near future due to the unstable economic situation in the world. This is confirmed by Musk's words during the Q3 2023 Earnings Call. He said the company would not rush into plans in Mexico due to the difficult global economic situation.

Indonesia has been courting Tesla for years to invest in the country to build a battery and electric vehicle factory there. Officials are offering the company a chance to tap into its rich reserves of nickel ore, which can be processed for use in batteries and is an important component. Top officials have repeatedly said that Tesla is considering investing in the country. Although the manufacturer has not yet decided to develop in Indonesia, this may change as soon as the global economic situation improves. Nickel is one of the key components of batteries, so Indonesia remains in Tesla's area of interest.

© 2023, Eva Fox | Tesmanian. All rights reserved.


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About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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