Tesla Getting Closer To Building New Factory In Indonesia

Benzinga EV Insights

Mon, Oct 19, 2020, 7:31 AM1 min read

In this article:

Earlier this month, Reuters reported on a rumor of Tesla Inc (NASDAQ: TSLA) in talks to build a new factory in Central Java, Indonesia. Now it looks like talks are progressing, as Tesla gets closer to building the factory.

A story from CNBC Indonesia reports Elon Musk is exploring the construction of a battery factory in Indonesia.

Tesla is being directed to build its factory in the industrial area of Batang, Central Java, and the company may be receiving support from the government. Minister of Industry Agus Gumiwang confirmed Tesla's plan and said Tesla would be directed to build a factory in Batang.

Benzinga's Take: As Tesla grows, it will need to produce many more batteries, as that is currently the company's main bottleneck in vehicle production. Indonesia is known for its high nickel production and resources, and could make a great place for Tesla to manufacture a mass amount of batteries.

Geographically, it would be an ideal place to produce batteries to supply the Asian and Australian markets, which are expected to grow quickly.

Photo courtesy of Tesla.

See more from Benzinga

Here's Exactly When Social Security Recipients Can Expect Benefit Cuts, According to the Latest Trustees Report
Social Security payments may be subject to cuts. Here's what the timing looks like.
Motley Fool
How Much Cash Can A $300,000 Annuity Generate For Me Each Month?
Imagine having a reliable source of income you can count on throughout your retirement. That’s the promise of an annuity. These insurance products have been designed to turn your savings into a steady stream of monthly payments. They guarantee peace of mind and financial security in your golden years. Don't Miss: Are you rich? Here’s what Americans think you need to be considered wealthy. Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you. An
Benzinga
Can You Guess What Percentage Of A High-Net-Worth Individual's Portfolio Is Typically Held In Retirement Accounts?
High net worth individuals (HNWIs) are those who have at least $1 million in easily convertible assets like cash, stocks, and bonds. They often manage significant wealth across diverse portfolios. As per Empower’s financial dashboard, retirement accounts such as 401(k) plans and IRAs comprise 55% of total wealth for many HNWIs. This is a stark contrast to the median household. Pew Research Center reports that these accounts typically represent only 27% of the net worth of households where at lea
Benzinga
Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought
The popular growth investor added to these three existing positions on Tuesday.
Motley Fool
Andreessen Horowitz partner says Google is an ‘amazing example’ of employing people in ‘BS jobs’: ‘Half the white-collar staff probably does no real work’
“Those people aren’t just being useless (and being coddled to think useless jobs actually matter—they don’t), but they are also taking money away from the rest of the workforce’s retirement programs.”
Fortune
Warren Buffett Paid $1.7 Billion For A Business Without Ever Meeting Its Founders By Using The 'Most Important' Thing in Business
Warren Buffett is known for his astute business practices and hardball negotiation tactics. His company, Berkshire Hathaway Inc., is one of the largest conglomerates and investment companies in the world. It has acquired dozens of companies over the years with over 75 wholly owned or controlled subsidiaries. It owns shares valued at billions of dollars in companies like Apple Inc., Amazon.com Inc., Mastercard Inc. and others. Buffett amassed his incredible portfolio and his company’s nearly $1 t
Benzinga
3 Ridiculously Undervalued Stocks to Buy Hand Over Fist Right Now in May
Investing in cheap stocks brings unique risks because there is usually a reason the companies are undervalued.
Motley Fool
Second Death - Pfizer Reports Young Boy's Death After One Year Of Gene Therapy Treatment In Muscle Wasting Disorder Trial
A young patient died due to cardiac arrest after receiving Pfizer Inc’s (NYSE:PFE) experimental gene therapy in a mid-stage trial for Duchenne muscular dystrophy (DMD), the company told in a letter to Parent Project Muscular Dystrophy. The boy was enrolled in Phase 2 DAYLIGHT study studying the treatment in boys at least two years old and under four years old. The patient received the investigational gene therapy, fordadistrogene movaparvovec (PF-06939926), in early 2023. Citing Pfizer, Reuters
Benzinga
Why Coca-Cola Consolidated Stock Skyrocketed Over $1,000 Per Share Today
You won't believe the amount of money that the bottler intends to return to shareholders.
Motley Fool
Tesla Surprisingly Becomes Luminar's Largest Lidar Customer, Contradicting Musk's Past Criticism
Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has described lidar sensors as a “crutch” for autonomous vehicles. Yet Tesla has become the largest customer of lidar manufacturer Luminar Technologies, Inc. (NASDAQ:LAZR). As disclosed in Luminar’s earnings report on Tuesday, in the first quarter of 2024, Tesla contributed over 10% of Luminar’s revenue, totaling more than $2 million. Luminar’s revenue decreased 5% from the fourth quarter of 2023, primarily due to reduced sensor sales to non-automotive cust
Benzinga

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Tesla Getting Closer To Building New Factory In Indonesia

Recommended Stories

Here's Exactly When Social Security Recipients Can Expect Benefit Cuts, According to the Latest Trustees Report

How Much Cash Can A $300,000 Annuity Generate For Me Each Month?

Can You Guess What Percentage Of A High-Net-Worth Individual's Portfolio Is Typically Held In Retirement Accounts?

Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought

Andreessen Horowitz partner says Google is an ‘amazing example’ of employing people in ‘BS jobs’: ‘Half the white-collar staff probably does no real work’

Warren Buffett Paid $1.7 Billion For A Business Without Ever Meeting Its Founders By Using The 'Most Important' Thing in Business

3 Ridiculously Undervalued Stocks to Buy Hand Over Fist Right Now in May

Second Death - Pfizer Reports Young Boy's Death After One Year Of Gene Therapy Treatment In Muscle Wasting Disorder Trial

Why Coca-Cola Consolidated Stock Skyrocketed Over $1,000 Per Share Today

Tesla Surprisingly Becomes Luminar's Largest Lidar Customer, Contradicting Musk's Past Criticism