Tesla sent investment proposal to Indonesia: Report

Indonesia has reportedly received an investment proposal from Tesla, the latest development in the automaker’s possible expansion into the country.

According to Indonesia’s deputy head for investment and mining coordination, Septian Hario Seto, Tesla sent the proposal on Thursday. Government representatives and Tesla officials will hold an online meeting next week to discuss the details.

“I received their proposal yesterday morning…next week we will meet them (virtually) to get an official explanation,” Septian told Reuters.

Due to a non-disclosure agreement, Septian was not able to provide more details about the proposal, only to say it focused on batteries and energy storage solutions.

“If they only want to buy raw materials, we are not interested. This (proposal) is beyond just taking the raw material,” he added.

Indonesia is known to have one of the largest nickel reserves in the world, one of the key ingredients in EV batteries. The idea of a Tesla battery facility in the country began in October on reports the automaker had approached the government about a possible project.

Several meetings followed with Indonesian officials meeting with Tesla executives in November.

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