Tesla has signed a nickel purchase contract from two Indonesian companies with a fantastic value of 5 billion US dollars or equivalent to 74.5 trillion rupiah.

According to the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan Tesla signed a five-year contract with a nickel processing company operating outside Morowali, Sulawesi. This nickel material is planned to be used in Tesla's lithium battery.

Indonesia, as one of the countries with the largest nickel reserves in the world, has been wooing Tesla to invest in Indonesia since the beginning of the year. Previously, the Coordinating Minister Luhut Binsar Pandjaitan and President Joko Widodo himself had also met with Elon Musk earlier this year to discuss Tesla's investment opportunities in Indonesia.