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Tesla signed a $ 5 billion contract with the Indonesian government for the nickelaccording to what is reported by the Reuters. The coordinating minister of maritime affairs and investments Luhut Pandjaitan has, in fact, announced that Tesla has signed a five-year contract with the nickel processing companies operating in Morowalion the island of Sulawesi.
Nickel is one of the main materials in the production of cathodes for battery cells used in electric vehicles. Many manufacturers, including Tesla, have pledged to reduce the presence of nickel in battery cells, but for the moment it remains indispensable.
Tesla and Indonesia have been in talks for the supply of nickel for several years. The country one of the largest nickel producers in the worldbut has recently The export of nickel ore is prohibited in an attempt to encourage the local production of finished products and investment in new ones battery factories.
Earlier this year, Tesla sent a delegation to Indonesia to discuss investment in the country with the government. On that occasion, Musk met the president Joko “Jokowi” Widodo. According to statements by Investment Minister Bahlil Lahadalia dating back to May 2022 Tesla would have committed to building a battery and electric vehicle factory in Indonesia. Despite this public release, however, the negotiations between Tesla and Indonesia have continued. There have been no further updates for months, while Reuters now reports on the agreement to export nickel directly to Tesla factories.
Over the past year, the price of nickel has doubledwith a consistent surge that occurred last March, after the outbreak of hostility in Ukraine. From that moment Tesla has intensified its efforts to secure the mineral in an alternative way to the usual ways by strengthening relations with various suppliers, including the Brazilian giant. It is worthwhich operates, among other countries, also in Indonesia.
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