Tesla contracts to buy nickel in Indonesia – Polimer News – Tamil News | Latest Tamil News | Tamil News Online

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America’s Tesla has signed a $5 billion deal to buy nickel from Indonesia to make lithium batteries for electric vehicles.

Indonesia, which has the world’s largest nickel ore reserves, is showing interest in setting up domestic electric vehicle and battery manufacturing plants.

For this reason, the export of nickel ore has also been stopped. As a result, Chinese steel companies have successfully attracted investment from South Korea’s LG and Hyundai. In this case, Tesla has signed an agreement to purchase nickel, which is a battery raw material, from Indonesian companies for 5 years.

It has been reported that Indonesia is planning to impose a tax on nickel exports to boost domestic production and increase revenue.

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