Caixin
Aug 10, 2022 08:36 PM
TECH

China’s Tsingshan Looms Over Tesla’s $5 Billion in Indonesian Nickel Deals

A sign is posted in front of a Tesla service center on April 20, 2022 in Fremont, California. Photo: VCG
A sign is posted in front of a Tesla service center on April 20, 2022 in Fremont, California. Photo: VCG

Tesla Inc. has signed $5 billion worth of deals to buy nickel for electric-vehicle (EV) batteries from companies operating in an Indonesian industrial park that’s jointly run by Chinese metals giant Tsingshan Holdings Group Co. Ltd., according to a local government official.

Tesla has signed a five-year contract with nickel processing companies operating out of the Morowali Industrial Park on Sulawesi Island, Indonesia’s Coordinating Minister for Maritime and Investment Affairs Luhut Pandjaitan said during an interview broadcast Monday by CNBC Indonesia.

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