Tesla, BYD Finalizing Deals to Invest in Indonesia EV Space

Tesla, BYD, Hyundai finalizing EV investment deals: Panjaitan
Indonesia expects $30 billion battery investments through 2026

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By Eko Listiyorini and Norman Harsono

January 17, 2023 at 5:49 AM UTC

Updated on

January 17, 2023 at 8:10 AM UTC

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Tesla Inc. as well as Chinese automaker BYD and South Korea’s Hyundai Motor Co. are finalizing deals to invest in Indonesia’s electric-vehicle industry, said a senior minister.

“All the top global carmakers are coming to us,” said Luhut Panjaitan, coordinating minister for maritime affairs and investment, in a meeting with local government leaders on Tuesday. “BYD, Tesla, Hyundai and others are all finalizing deals with Indonesia.”