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Friday, May 20, 2022

Indonesia’s Jokowi meets Tesla’s Musk after nickel talks

Indonesian President Joko Widodo met Tesla Inc Chief Executive Elon Musk on Saturday in Texas to debate potential investments and know-how, Indonesia’s authorities mentioned in an announcement.

The assembly between Musk and Widodo, higher referred to as Jokowi, got here after a spherical of working-level discussions on a possible funding in Indonesia’s nickel trade and provide of batteries for electrical automobiles, Indonesian officers advised Reuters.

Representatives from Tesla have been in Indonesia final week for conferences relating to a possible battery-related funding, Indonesian officers and two individuals aware of the talks have mentioned. Tesla had no quick remark.

Indonesia for years has been attempting to safe a take care of Tesla on battery funding and doubtlessly for Musk’s SpaceX aerospace firm.
Jokowi traveled from Washington, the place he attended a gathering of leaders from the Association of Southeast Asian Nations (ASEAN), to fulfill Musk on the SpaceX launch web site in Boca Chica, Texas. He invited the billionaire to go to Indonesia in November.

Jokowi is to host a summit of the Group of 20 massive economies in Bali in November. “Hopefully in November,” the Indonesian authorities quoted Musk as saying.

Musk mentioned there may very well be room for “partnerships in many things because Indonesia has a lot of potential”, the assertion mentioned.
Indonesia has the world’s greatest nickel reserves, and Jokowi is eager to develop a nickel-based EV trade at house – from making nickel steel to producing battery parts and assembling electrical automobiles. In the previous, he has additionally urged Musk to think about a rocket launch web site in Indonesia.

Two offers over the previous month have given new momentum to Jokowi’s push to develop an EV-related trade at a time when world automakers have been scrambling to safe provides of battery supplies and cut back their reliance on China.
A consortium led by South Korea’s LG Energy Solution Ltd, the worldwide No. 2 maker of EV batteries, introduced plans final month to speculate $9 billion in Indonesia as a part of a deal that would come with the whole lot from nickel refining to producing battery cells in Indonesia.

LG’s bigger rival, China-based Contemporary Amperex Technology, a Tesla provider, introduced a $9-billion Indonesia funding in April.

Source: www.financialexpress.com”

Business Khabar
Business Khabar
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