Indonesia over India? Here's why Tesla's choice for production hub may be changing

Updated : May 16, 2022 12:19
|
Editorji News Desk

India or Indonesia? Elon Musk is scouting out sites to make more Teslas for global roads. 

Dissatisfied with India's high import duties and lack of an ecosystem to support EV sales, Musk is exploring other locations in Asia for a Tesla factory. And Indonesia could mark the spot.

Also read/ watch| LIC IPO listing tomorrow: What does the grey market say

Bloomberg reports that Elon Musk met with Indonesian President Joko Widodo at the rocket manufacturer’s site in Boca Chica, Texas, over the weekend, during which Widodo extended an invite for the CEO.  Musk as per a statement released by the President's office is looking at visit “Hopefully in November"

Also read/watch| Adani to acquire Ambuja Cement and ACC from Holcim

Indonesia, which has the world’s biggest nickel reserves and is keen to develop a nickel-based EV industry at home, has been trying to secure a deal with Tesla for years on battery investment and potentially for Musk's SpaceX aerospace company.

Indonesiatesla in indiaTeslaElon Musk

Recommended For You

editorji | Business

Centre plans to borrow Rs 8.20 lakh cr from market in first half of FY27

editorji | Business

Reliance denies buying Iranian oil amid US sanctions waiver

editorji | Business

Premium petrol price up Rs 2, industrial diesel up Rs 22; no change in normal petrol, diesel rates

editorji | Business

India's GDP expected to register over 8 pc growth in Sep-Dec: Report

editorji | Business

Govt announces seven measures to help boost exports