Indonesia Woos Tesla, BYD And Other Automakers With Favorable Incentives For EV Production
Portfolio Pulse from Benzinga Neuro
Indonesia is courting automakers, including Tesla Inc. (NASDAQ:TSLA), with attractive incentives for electric vehicle (EV) production. The country's rich nickel reserves, crucial for battery production, have been a significant part of the negotiations. Indonesia is reportedly planning to offer substantial incentives to companies, including Tesla and BYD, and is willing to benchmark their offers against other countries vying for the same companies.
July 27, 2023 | 10:33 am
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Tesla is being courted by Indonesia with incentives for EV production. This could potentially lower Tesla's production costs and increase its global footprint.
Indonesia's incentives could potentially lower Tesla's production costs by providing access to the country's rich nickel reserves, crucial for battery production. This could also increase Tesla's global footprint by establishing a production base in Indonesia.
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