The Indonesian government is working to limit Chinese ownership in nickel smelter projects to under 25% to help the domestic sector qualify for US electric vehicle subsidies. Septian Hario Seto, Deputy for Investment and Mining, clarified that the government won’t interfere in companies’ shareholding decisions.
Ongoing discussions are aimed at accessing consumer tax credits under the US Inflation Reduction Act (IRA), which imposes new criteria for metallic minerals eligible for EV incentives. China is considered a foreign entity that may not benefit from these provisions.
US Deputy Secretary of State Jose W. Fernandez highlighted potential collaboration with Indonesia on critical minerals and mentioned talks about a mineral security partnership involving 14 countries, including the EU, which represent over 55% of global GDP.
Image source: Tesla
Source Link: https://indonesiabusinesspost.com/insider/indonesia-to-supply-ev-battery-components-to-tesla-starting-january-2025/
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