Like Musk, nickel-rich Indonesia has high electric vehicle ambitions

A salesman speaks about the Wuling Air EV electric car to visitors at a shopping mall in Jakarta, Indonesia, February 5, 2023. REUTERS/Willy Kurniawan

JAKARTA (Reuters) - Armed with the world's largest reserves of nickel and a ban on the export of nickel ore, Indonesia is making itself indispensable for the electric vehicle industry, which uses the metal extensively.

In just three years, Indonesia has signed more than a dozen deals worth more than $15 billion for battery and electric vehicle production in the country with manufacturers including Hyundai Motor, LG Group and Foxconn.