Indonesia close to EV deals with BYD Group and Tesla - minister

Wuling Motors Holdings

17/01/2023 05:51

JAKARTA, Jan 17 (Reuters) - Indonesia is finalising
agreements with China's automaker BYD Group and U.S. carmaker
Tesla  TSLA.O  to invest in electric vehicle (EV) production
facilities in the Southeast Asian country, a senior cabinet
minister said on Tuesday.
    Indonesia is aggressively promoting investment into
batteries and EVs at home to take advantage of its rich nickel
resources. Once a major nickel ore exporter, it has banned
exports to ensure enough raw materials for investors.
    "All the biggest (electric) car makers in the world will
invest here. BYD Group, the number one in the world, Tesla, the
number two, Hyundai and so on, they are all finalising deals
with Indonesia," coordinating minister Luhut Pandjaitan said in
a meeting with provincial governments.
    He did not disclose further details at the meeting. 
    BYD Group and Tesla did not immediately respond to requests
for comment.
    South Korean carmaker Hyundai  005380.KS  launched its plant
in Indonesia in March last year to produce the country's first
locally assembled EV.  
    SGMW Motor Indonesia, part of a joint venture of SAIC Motor
Corp Ltd, General Motors Co  GM.N  and Wuling Motors Holdings
 0305.HK , has built assembly facilities in Indonesia.
 (Reporting by Fransiska Nangoy, Bernadette Christina Munthe;
Editing by Martin Petty)
 ((Fransiska.Nangoy@thomsonreuters.com;))