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Jokowi lays out his pitch for why Elon Musk should invest in Indonesia

admin by admin
June 20, 2022
in Business
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Jokowi lays out his pitch for why Elon Musk should invest in Indonesia
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Seen at an event in New York in early May, Elon Musk is being actively brought to court to produce electric vehicles “end-to-end” in resource-rich Indonesia.

Angela Weiss | AFP | Getty Images

President Joko Widodo denies Indonesia’s shift to protected trade during his tenure and uses the country’s abundant natural resources to add value to the local economy, including Tesla. He said the door remains open to all players who want to.

Widodo, or Jokowi, who is widely known at home, said the government is in talks with electric car makers. Tesla Even if Ford Other automobile companies that establish manufacturing facilities including automobile factories in Indonesia.

The Indonesian president said he met Tesla CEO Elon Musk in May after US President Joe Biden hosted a summit for Southeast Asian leaders. Stated. Jokowi said Tesla suggested that the entire supply chain could be placed in the country.

“Especially on how Tesla builds industries upstream-to-downstream, end-to-end from smelters, then cathode and precursor industries, build EV batteries, build lithium batteries. There was a debate. [and] After that, the vehicle factory. Everything in Indonesia, because it’s very efficient. That’s what I provided. ” Widdo told CNBC in an exclusive interview in Serang, Banten on Friday.

“We sent the team to Indonesia to check the potential of nickel and check the environment, but no car-related team has come,” Musk said six weeks ago.

He said Teams can visit the “near future” to assess their potential. Jokowi, who also invited the mask to Indonesia’s G20 summit in Bali this year, said Tesla’s plans to invest in Indonesia were “not yet decided.”

We would like to build an industrial ecosystem for lithium batteries.

Joko Widodo

President of Indonesia

Indonesia, the largest economy in Southeast Asia, has abundant natural deposits of tin, copper, nickel, cobalt and bauxite, some of which are Battery for electric vehicles.

Under Jokowi, resource-rich Indonesia banned exports of key commodities, including raw nickel in 2020, coal in 2021 and cooking oil in April. The last measure was aimed at stabilizing domestic prices.

“No, I don’t think it’s a protected trade principle, but we want to put that value in Indonesia … If we continue to export raw materials, it’s the other countries that get the value.” He said.

Indonesia wants to stop exporting raw materials in order to revitalize the economy and use natural resources for domestic manufacturing.I also want to be a global player Manufacturer of EV batteries and electric vehicles.

“We want to build an industrial ecosystem for lithium batteries,” said Jokowi, arguing that this would create jobs and generate tax revenues.

Tags: Asian economyAutomobileBusiness newseconomyElonFord Motor Co.Inc.IndonesiainvestJokowilaysLtd.Metals and minerals industryMuskpitchtechnologyTesla
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