Indonesia Says Tesla Strikes $5 Billion Deal to Buy Nickel Products

Indonesia Says Tesla Strikes $5 Billion Deal to Buy Nickel Products
Tesla cars parked at the construction site of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, on March 20, 2022. Hannibal Hanschke/Reuters
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JAKARTA—U.S. carmaker Tesla has signed contracts worth about $5 billion to buy materials for their batteries from nickel processing companies in Indonesia, a senior cabinet minister told CNBC Indonesia.

Southeast Asia’s biggest economy has been trying to get Tesla to set up a production facility in the country, which has major nickel reserves. President Joko Widodo met with Tesla founder Elon Musk earlier this year to drum up investment.