Indonesia’s Jokowi meets Tesla’s Musk after nickel talks

JAKARTA, Might 15 (Reuters) – Indonesian President Joko Widodo met Tesla Inc (TSLA.O) Chief Government Elon Musk on Saturday in Texas to debate potential investments and expertise, Indonesia’s authorities stated in a press release.

The assembly between Musk and Widodo, higher often called Jokowi, got here after a spherical of working-level discussions on a possible funding in Indonesia’s nickel business and provide of batteries for electrical autos, Indonesian officers instructed Reuters.

Representatives from Tesla have been in Indonesia final week for conferences relating to a possible battery-related funding, Indonesian officers and two folks accustomed to the talks have stated.

Tesla had no fast remark.

Indonesia for years has been attempting to safe a cope with Tesla on battery funding and doubtlessly for Musk’s SpaceX aerospace firm.

Jokowi traveled from Washington, the place he attended a gathering of leaders from the Affiliation of Southeast Asian Nations (ASEAN), to satisfy Musk on the SpaceX launch website in Boca Chica, Texas. He invited the billionaire to go to Indonesia in November.

Jokowi is to host a summit of the Group of 20 huge economies in Bali in November. “Hopefully in November,” the Indonesian authorities quoted Musk as saying.

Musk stated there could possibly be room for “partnerships in lots of issues, as a result of Indonesia has a whole lot of potential”, the assertion stated.

Indonesia has the world’s largest nickel reserves, and Jokowi is eager to develop a nickel-based EV business at residence – from making nickel steel, to producing battery parts and assembling electrical autos. Prior to now, he has additionally urged Musk to think about a rocket launch website in Indonesia.

Two offers over the previous month have given new momentum to Jokowi’s push to develop an EV-related business at a time when world automakers have been scrambling to safe provides of battery supplies and cut back their reliance on China.

A consortium led by South Korea’s LG Vitality Answer Ltd (373220.KS), the worldwide No. 2 maker of EV batteries, introduced plans final month to take a position $9 billion in Indonesia as a part of a deal that would come with every part from nickel refining to producing battery cells in Indonesia.

LG’s bigger rival, China-based Modern Amperex Expertise (300750.SZ), a Tesla provider, introduced a $9-billion Indonesia funding in April.

Reporting by Stanley Widianto in Jakarta; Further reporting by Ed Davies, Norihiko Shirouzu, Gavin Maguire and Fransiska Nangoy; Writing by Kevin Krolicki; Modifying by William Mallard

Our Requirements: The Thomson Reuters Belief Ideas.