Tesla closes in on preliminary deal for Indonesia electric car plant

Should a deal be signed, the Tesla plant in Indonesia would produce as many as 1 million cars a year. - Reuters

JAKARTA (Bloomberg): Tesla Inc is close to a preliminary deal to set up a factory in Indonesia, according to people familiar with the matter, as Elon Musk’s electric-vehicle maker looks to capitaliSe on the South-East Asian nation’s reserves of key battery metals.

The plant would produce as many as 1 million cars a year, the people said, in line with Tesla’s ambition for all its factories globally to eventually reach that capacity.