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Tesla has reportedly agreed to a deal with the Indonesian government that will secure the automaker about $5 billion worth of nickel, according to a government official.

 

In 2020, we reported on Tesla allegedly being in talks with the Indonesian government to build a new nickel venture in the country, which has a strong nickel reserve – nickel is one of the main materials used in the production of cathodes for battery cells used in electric vehicles. The move came after CEO Elon Musk pleaded with mining companies to increase their nickel production.

As we detailed in our previous report on Tesla’s interest in Indonesia, the country is one of the world’s biggest nickel producers, but it has also recently put a ban on exporting nickel ore in order to encourage the industry to process it locally.



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Tesla Secures $5 Billion Worth Of Nickle From Indonesia

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