JAKARTA : Indonesia is courting Tesla Inc to invest in the country, which has become a key player in the electric vehicle industrythanks to its rich nickel reserves. In just three years, Indonesia has signed more than a dozen deals worth more than $15 billion for battery materials and electric vehicle pro
JAKARTA : Indonesia is courting Tesla Inc to invest in the country, which has become a key player in the electric vehicle industrythanks to its rich nickel reserves.
Dec. 2020: Indonesia's investment ministry signs an MOU with LG Energy Solution on integrated EV battery investment with total investment of $9.8 billion. Jan. 2022: Indonesia's Investment Ministry signs an MoU with Foxconn, Gogoro Inc, IBC and Indika Energy for investment in electric vehicle and battery development.
April 2022: IBC and state mining company Aneka Tambang sign a framework agreement with China's biggest battery manufacturer CATL Group, through its subsidiary Ningbo Contemporary Brunp Lygent Co , for partnership spanning from nickel mining and processing to EV battery manufacturing and battery recycling.
Aug. 2022: Production of an electric vehicle, Wuling Air, is launched in Indonesia. It is being built by SGMW Motor Indonesia, part of a joint venture of SAIC Motor Corp Ltd, General Motors Co and Wuling Motors.
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