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View all search resultsLike Musk, nickel-rich Indonesia has high electric vehicle ambitions
In just three years, Indonesia has signed more than a dozen deals worth more than US$15 billion for battery and electric vehicle production in the country with manufacturers including Hyundai Motor, LG Group and Foxconn.
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rmed with the world’s largest reserves of nickel and a ban on the export of nickel ore, Indonesia is making itself indispensable for the electric vehicle (EV) industry, which uses the metal extensively.
In just three years, Indonesia has signed more than a dozen deals worth more than US$15 billion for battery and electric vehicle production in the country with manufacturers including Hyundai Motor, LG Group and Foxconn.
Next up is the mammoth Tesla Inc., the world’s most valuable automaker.
President Joko “Jokowi” Widodo has pulled out all the stops to convince CEO Elon Musk to manufacture EVs or electric vehicle batteries (EVBs) in the sprawling Southeast Asian archipelago.
“I’m very confident this industry will grow quickly, will grow very fast,” the President said in an interview last week.
Indonesia has a total of 21 million tonnes in proven reserves with nickel content, according to the United States Geological Survey. That is nearly a quarter of the world’s reserves.
The country mined 1.4 million tonnes of nickel in January-November last year, according to the International Nickel Study Group. That’s far ahead of the second-biggest producer, the Philippines, which mined 290,000 tonnes in the same period, and more than double Indonesia’s output of 606,000 tonnes in 2018.
