"Tesla Unlikely to Pursue Indonesia Plant Soon, Panjaitan Says"

This decision has been terribly mis-handled by Tesla management and Tesla's communications peeps. 

From Bloomberg via Yahoo Finance, September 6:

Indonesia doesn’t expect Tesla Inc. to invest in the country anytime soon, after coordinating minister Luhut Panjaitan met with Elon Musk last month.

“I said fine, we are doing OK, if you cannot invest in Indonesia for a moment, no problem,” Panjaitan, who is the coordinating minister for maritime affairs and investment, said about his meeting with Musk in August when they talked about Tesla for more than two hours.

Speaking at the Bloomberg CEO Forum in Jakarta on Wednesday, Panjaitan said Musk was concerned about the global economic outlook and oversupply in the electric vehicle industry.

Tesla last week rolled out another round of price cuts and unveiled its refreshed Model 3 in an all-out push to boost sales. In the US, Tesla has dropped the starting price of the Model X to $79,990 — a $41,000 reduction from the start of the year.

Bloomberg reported earlier this year that Tesla was closing in on a preliminary deal to set up a factory in Indonesia.

Indonesian President Joko Widodo has set out a vision of building out an end-to-end electric-vehicle supply chain onshore by offering potential investors access to the nation’s reserves of key battery metals as well as its more than 270 million consumers....

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The CIA will probably put-together a coup in the style of the one in Pakistan 

Or maybe just rig the upcoming election. They seem better at that stuff than actual intelligence gathering.

Previously:
February 2023
Indonesia's President Jokowi ‘confident’ Tesla Will Invest (TSLA)

July 29's: "Uh Oh: "Indonesia blindsided by Musk snub on Tesla plant":

Elon better get this right. Maybe, if the Indonesian government actually gets going on the project to shift the capital to Borneo Mr. Musk could be something of an employment anchor, but whatever he does he should make amends to Indonesia....

August 1
"Indonesia's new capital aims to be 'economic growth center'"

August 12, 2023
"Musk still mulling massive Tesla plant for Indonesia"
As well he should. Indonesia as both a raw material supplier and value-chain extender is a win for Tesla and a win for Indonesia. Throw in the benefits of a developing market for the end product and Tesla would be foolish to only build the Malaysian plant.

As we've tried to emphasize for the last couple years, resource nationalism is real and the desire of resource-rich countries to be left with something more than a hole in the ground for their efforts is the story of this decade and beyond....