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Tesla nears deal to build Indonesian EV factory

Tesla Model Y

Tesla Inc is nearing a deal to build production facilities in Indonesia with a capacity of one million units to facilitate the company's supply chain, according to Indonesia's Ministry of Investment.

The carmaker has factories in Austin, Fremont, Shanghai, and Berlin, and is set to open another one in Mexico's Nuevo Leon state.

Tesla CEO Elon Musk was also eyeing South Korea as among its top candidate locations for an Asian factory.

Indonesian President Joko Widodo urged Teslar to manufacture its cars and batteries, in the country

Tesla had previously signed contracts worth about $5 billion to buy materials for their batteries from nickel processing companies in Indonesia,

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