Shulou(Shulou.com)11/24 Report--

CTOnews.com, January 17 (Reuters)-Indonesia is finalizing an agreement with Chinese carmaker BYD Group and American carmaker Tesla to invest in electric vehicle production facilities in the country, Indonesian Maritime and Investment Coordination Minister Luhut Pandjaitan said today.

Indonesia is said to be actively promoting investment in domestic batteries and electric vehicles to take advantage of its rich nickel resources. As a major exporter of nickel ore, the country has banned the export of nickel ore to ensure that local investors have sufficient raw materials.

"all the largest (electric) carmakers in the world will invest here. The world's first BYD Group, second Tesla, Hyundai and so on, are all closing deals with Indonesia," Luhut Pandjaitan said. However, he did not disclose further details at the meeting.

South Korean carmaker Hyundai Motor opened a factory in Indonesia in March last year to produce the country's first locally assembled electric car, according to CTOnews.com.

In addition, SAIC GM Wuling Motor Indonesia has also set up a new factory in Indonesia's Java province, and its first model, the Air ev, has also been officially unveiled.

"sources say Tesla is close to reaching a preliminary agreement to build an electric car factory in Indonesia, with a target of producing 1 million vehicles a year."

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