Tesla, BYD Finalizing Deals to Invest in Indonesia EV Space

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.”