Indonesia says Tesla Secures $5 Billion Nickel Supply Deal, after the CNBC interview with the Indonesian government Tesla shares were up by 2% in premarket.
Highlights
- Tesla Stock Pops on Report it Struck a $5 Billion Nickel Supply Deal in Indonesia
- Senior Cabinet Minster said in an interview with CNBC, that Tesla INC. has secured $5 billion for a Nickel supply deal from the Indonesian.
- It is also expected that Elon musk take this decision, after talking to all the nickel suppliers and producers.
- This May 16th, musk also meet with the president of Indonesia JOKO “Joko widodo” meeting also he also approaches JOKO to build EV Nickel HUB in the country.
- Also, Tesla signed a long deal with two new contractors Zhejiang Huayou Cobalt Co. and CNGR Advanced material in China.
Tesla INC. has secured $5 billion for a Nickel supply deal from the Indonesian government over the next 5 years of the deal said, Senior Cabinet Minster said in an interview with CNBC.
This is a great deal signed by musk to secure tesla’s future with the issue of the “Nickel Supply chain”, which is the most important raw material used in manufacturing cathode battery cells in electric cars.
It is also expected that Elon musk take this decision, after talking to all the nickel suppliers and producers.
Also, Elon musk has strong bonding with the Indonesian government, so the government also supports musk in developing the nickel hub.
As we know in the last passing years,2020 Elon Musk also talk to the Indonesian government to deploy a nickel supply hub in the country. so the nickel supply chain issue was completely solved.
Also, Indonesia’s past record data, Indonesia is the world’s biggest Nickel EV producer and leading marketer but, now it ore bans exporting nickel supply, with the only aim to encourage companies to apply locally.
This May 16th, musk also meet with the president of Indonesia JOKO “Joko widodo” meeting also he also approaches JOKO to build EV Nickel HUB in the country.
JOKO also said that we are working on LG energy signing a massive $10 billion deal to build batteries in the country, CTAL also said that we have been investing a large amount in battery production in the country.
In the last year 2020, Tesla also agrees to deploy a battery & electric vehicles plant in Indonesia at Industrial COmplex in central Java province as per the Eletrek report.
Also, Tesla signed a long deal with two new contractors Zhejiang Huayou Cobalt Co. and CNGR Advanced material in China.
Zhejiang Huayou will supply cobalt for batteries to Tesla from July 1 to the end of 2025, as per the statement, the Mines also said that the price of the product will be the same as the market price of nickel, cobalt & manganese, or refining fees.
In Meeting Musk also said that there should be specific room for partnership in many things because Indonesia has a lot of opportunities to become an EV hub.
In an interview with the corrdinate minster, “Luhut Binsar Pandjaitan”, said the tesla finally invest $ 5 billion of the agreement for nickel supply to Indonesia (country) over a 5 five of a deal.
We are still in constant negotiation with Tesla… but they have started buying two excellent products from Indonesia.
Indonesia always trying to force musk to satert providing EVs in Southeast Asia’s largest economy Indonesia country.
AS per investing report, Tesla shares NASDAQ: $TSLA increased up to 2% in premarket Monday, after the report of CNBC that Elon musk signed a deal worth $5 billion on the nickel battery to Indonesia.
Tesla Supplier also announced an investment of $ 9 billion in Indonesia, in an April report.