Indonesia Receives Official Investment Offer From Tesla

Indonesia Receives Official Investment Offer From Tesla

Tesla In Discussion for Major Nickel Deals in Indonesia and Canada

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Tesla is in talks for major Nickel suppliers in Indonesia and Canada for a major investment to secure nickel for its batteries.\n\nAccording to Reuters Indonesia’s government is in early discussions with electric vehicles maker Tesla Inc TSLA.O about a potential investment in the Southeast Asia country, a major producer of nickel, an official said.\n\n“It was still an early discussion and was not detailed yet,” Ayodhia Kalake, a senior official at the Coordinating Ministry for Maritime and Investment said in a statement on Monday. He said Tesla had reached out to the government informally about a possible venture, but he did not specify what it had in mind.\n\n“We need further discussion with Tesla,” he said, adding that Indonesia has a number of incentives for investment in EVs.\n\nReuters also reports that Brazilian miner Vale SA is in talks with Tesla and others in the electric vehicle (EV) supply chain about securing nickel from its Canadian operations, the head of the miner’s base metals unit said on Friday.\n\n“So that is the nature of the discussions I’m sure that is occurring across the industry right now and, without specifically commenting on Tesla, those are the conversations we are having right now,” Mark Travers, Vale’s executive director of base metals, told Reuters.\n\nSimon Alvarez of Teslarati, notes that Tesla seems to have made some headway into acquiring partners for its batteries’ other key components. Apart from the multiple nickel suppliers that have hinted at potential partnerships with Tesla, the company has also entered into a lithium supply deal with companies such as Australian mining firm Piedmont Lithium, which recently entered into a 5-year deal with the company. \n\n#Tesla\n#GigaBerlin\n\nThis is Armen Hareyan from Torque News. Please, visit us at https://www.TorqueNews.com for daily car sector news and follow us on Twitter at https://twitter.com/torquenewsauto for daily automotive sector tweets. And if you would like to support our channel, I would really appreciate buying us animated applause once a month by clicking on the applaud button, which is next to the Like button, if you are watching this video on a desktop. You can go to https://www.TorqueNews.com/tesla for our daily Tesla news coverage.\n\nReference\nTeslarati https://www.teslarati.com/tesla-indonesia-nickel-investment-report/\nReuters https://www.reuters.com/article/us-mining-canada-vale-sa-idUSKBN26N3HH

Indonesia Receives Official Investment Offer From Tesla

Indonesia has received an investment proposal from the American electric vehicle manufacturer Tesla, Septian Hario Seto, deputy head of the country for coordination of investments and mining, told reporters on Friday..

Indonesia is the world’s largest producer of nickel, a material needed for electric vehicle batteries.

Indonesia Receives Official Investment Offer From Tesla

State officials have publicly persuaded Tesla to invest in the country, developing ambitious plans for the production of electric vehicles and batteries.

«I received their offer yesterday morning … next week we will meet with them (virtually) for an official clarification», – said Septian.

Septian said he could not provide details of the proposal due to a nondisclosure agreement, but said the focus of their discussion was on batteries and other energy storage solutions..

«If they just want to buy raw materials, we are not interested. This (proposal) goes beyond simple procurement of raw materials», – he added.

Once the largest exporter of nickel, Indonesia stopped supplying nickel last year.Indonesia Receives Official Investment Offer From Tesla The country intends to create its own complete nickel supply chain – starting with mining and then converting the ore into metals and chemicals used in batteries to meet the demand for electric vehicles..

Tesla said last year that it was looking for reliable sources of nickel around the world after warning that the current cost of batteries remains an obstacle to its growth..