Not resting on his laurels of moving the economy up the value chain, Widodo is pushing to bring investments in electric vehicle (EV) production in his country as well as components and battery production. In an exclusive CNBC interview with Martin Soong on June 17 and released on July 6, Widodo discussed his ties to Tesla’s (NASDAQ: TSLA) CEO Elon Musk and his desire to bring a Tesla facility to his country.
Collaboration with the state
Widodo explained that his country is open to working with Tesla and assisting in every aspect of the production with the final goal of bringing a Tesla factory to his country. It appears that there is no decision yet to build the factory. Still, there was an invitation to Elon Musk to attend the G20 summit in Bali, by Widodo, in which more discussions and a potential decision could be made.
Rising investments
Additionally, there is $9 billion worth of investment in the nickel industry in Indonesia by Asian superpowers like China, Japan, and Korea, which could require more investments from Western countries to balance things out. On the matter, Widodo claimed: It seems as if Indonesia is making power moves to try and push its economy into the future by bringing more investments into industries that will be the flywheel of future automobiles. Tesla is certainly one of the biggest, if not the biggest, name that could build a factory. If that occurs it would certainly cause ripples across the country and further entrench Tesla in the Asian markets. Even so, Tesla seems to be having some issues as more and more analysts are stating that the firm is losing its ‘products quality edge’. Buy stocks now with Interactive Broker – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
