Elon Musk has decided to postpone Tesla’s global investment for the next year and a half

Elon Musk postpones Tesla's global investment for 18 months

【Phoneauto News】On August 14th, phoneauto noticed that according to information released by Indonesian media such as Dedik and Kumparan on August 14th, Indonesian Minister of Maritime Affairs and Investment Coordination, Luhut, stated on August 14th that due to “concerns about the world economic situation,” Tesla’s CEO, Musk, has decided to “delay any global investments by Tesla in the next year and a half, including the promised investment in Mexico.” According to reports, Luhut met with Musk earlier this month in the United States. Luhut believes that Indonesia is still the preferred investment destination for Musk. According to him, Musk will visit Jakarta, Indonesia at the end of September or in October to discuss investments in the field of lithium battery material manufacturing and to discuss providing internet access to remote areas of Indonesia through “Starlink.”

Previously, in late July 2023, Luhut stated that Indonesia is finalizing a new set of incentives to attract investments from electric vehicle manufacturers. Currently, the government is negotiating with large companies such as Tesla and BYD, and Luhut plans to meet with executives from BYD in Chengdu, China before the end of July, and to meet with Tesla’s CEO, Musk, in California, United States before August 3rd. It is currently unclear whether the news of “Musk’s decision to delay any global investments by Tesla in the next year and a half, including the promised investment in Mexico” is what Luhut learned during his meeting with Musk.

It is worth mentioning that Indonesia seems to have been trying to attract Tesla to establish a car factory in the country, but so far, progress in their cooperation seems to be slow.

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