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Tesla to Invest in Car Battery, EVs in Indonesia: Investment Minister

Antara - 18 May 2022 19:53 WIB
Tesla to Invest in Car Battery, EVs in Indonesia: Investment Minister
Investment Minister Bahlil Lahadalia (Photo: BKPM)
Jakarta: Tesla had shown interest in investing in car battery and electric vehicles (EVs) in Indonesia, Investment Minister Bahlil Lahadalia stated.

"If God allows, Tesla will (be distributed in) Indonesia. It (Tesla) will delve into two major investments, the first is about the car battery ecosystem. The second is the car," Minister Lahadalia noted during the Road to G20: Investment Forum themed "Encouraging Expedition of Sustainable and Inclusive Investment" accessed from here on Wednesday.
The minister remarked that Tesla will start its investment in 2022. He, however, steered clear of mentioning the value of commitment made by Elon Musk's company.

"If asked when it will (begin), God willing, it will be in 2022, but I cannot reveal (details of) the month. We will have to wait because we have not signed the agreement yet. The value of investment is still being kept a secret, and we are still waiting. However, this is good stuff, big stuff," he explained.

However, the minister revealed that part of Tesla's investment would be in Batang, Central Java.

Lahadalia admitted to having received several queries regarding Tesla's investment after returning from his working visit to the US. This is especially after President Jokowi's meeting with Chief Executive Officer of Tesla, Elon Musk.

The minister stated that President Jokowi appealed to Tesla and Foxconn to invest in Indonesia. The president tasked him with persuading Foxconn, while Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, was handed over the responsibility of convincing Tesla to do it.

He noted that their attempts to persuade Foxconn into investing in Indonesia had borne fruit. However, the current negotiation with Tesla was still underway, he added. However, the president's expertise and intuition brought some success to the deal, and so, Tesla considered investing in Indonesia, he concluded. 

(WAH)

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