Indonesia, rich in nickel, proposes EV battery plant project to Elon Musk
- by Indiatimes
- May 21, 2024
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May 21, 2024, 10:18 IST
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Indonesia, with the world's largest nickel reserves, aims to leverage its resources for industrial growth. Nickel is crucial for EV batteries and solar panels. Musk was in Bali to launch a Starlink satellite internet service and addressed global water challenges, suggesting desalination could solve shortages with sufficient energy.
Indonesia proposed to Tesla CEO Elon Musk the construction of an electric vehicle (EV) battery plant in the nickel-rich nation, according to a top investment official. The offer was made after Musk met Indonesian President Joko Widodo during a water conference in Bali.
"We proposed an EV battery factory, including precursor cathode production, and he said he will consider it," said Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan.
Indonesia, with the world's largest nickel reserves, aims to leverage its resources for industrial growth. Nickel is crucial for EV batteries and solar panels. Musk was in Bali to launch a Starlink satellite internet service and addressed global water challenges, suggesting desalination could solve shortages with sufficient energy.
Indonesia provides 40% of the world's nickel, potentially increasing to 75% by 2030. The government targets producing 600,000 EVs by 2030, requiring 60% local content in EVs and components by 2027.
For years, Indonesia has sought deals with Tesla for battery investments and SpaceX for internet services in remote areas. President Widodo also requested Musk to invest in an AI center and build a SpaceX launchpad in Papua.
Musk made no formal investment announcements but indicated potential investment in Indonesia at a Sunday news conference after the Starlink launch.
Meanwhile, in the U.S., federal safety investigators are questioning Tesla about a recall of over 2 million vehicles with the Autopilot system, following 20 crashes after a software update.
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