Tesla chief executive Elon Musk has reportedly agreed to build a factory in Central Java province after meeting with Indonesia’s president Joko Widodo.
While a formal agreement has not yet been signed, Indonesia’s investment minister Bahlil Lahadalia indicated the project could begin this year, Electriv.com reports adding that no details have been revealed about the possible investment amount.
Musk met Widodo, pictured, during a visit to the SpaceX Starbase in Texas where they reportedly discussed the investments along with technology and innovation in general.
Indonesia has about a quarter of the world’s nickel deposits and wants to build up a processing industry for batteries and EVs, including reports a Korean consortium led by LG has agreed to build EV batteries and that Chinese battery cell maker CATL intends investing there too.
Hyundai Motor Group and LG Energy Solution expect to have a battery cell factory operating in Indonesia early in 2024 with an annual capacity of 10GWh.
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