Jumbo! Luhut Reveals Tesla Signs Contract to Buy Indonesian Nickel for IDR 74 T

Jakarta

Coordinating Minister for Maritime Affairs and Investment (Menko Marves) Luhut Binsar Pandjaitan revealed that Elon Musk’s company, Tesla has signed nickel purchase contracts from two Indonesian companies. The value is US$ 5 billion or equivalent to Rp. 74.5 trillion (exchange rate of Rp. 14,900/US$).

“They have bought, now that’s good, two Indonesian products, one from Huayou, the other where. He has signed a contract for five years. So he has entered the first stage,” he said on the CNBC Economic Update: Investment Attractiveness in Post-pandemic Indonesia. , Monday (8/8/2022).

Luhut said the contract would be used for lithium batteries in Tesla. The exact location for the nickel contracted by Tesla is in Morowali Regency, Central Sulawesi.

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“The contract for lithium batteries in Morowali, there are a dozen industries. He’s already engaged there, the value is probably around US$ 5 billion,” Luhut explained.

Meanwhile, for the construction of an automotive factory by Tesla in Indonesia, Luhut said it was still in the negotiation stage.

“This Tesla is still in ongoing negotiations, because Tesla is still busy with his country, with Twitter problems and so on,” he concluded.

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