Elon Musk Is Hoping To Visit Indonesia Later This Year: What That Means For SpaceX, Tesla

Tesla, Inc. (NASDAQ: TSLA) chief executive officer Elon Musk may be visiting Indonesia later this year to consider potential investment opportunities, according to a Bloomberg report. Musk met with Indonesian President Joko Widodo at the SpaceX rocket production site in Boca Chica, Texas on Saturday, according to a tweet by the president in the Indonesian language. Widodo also said he invited Musk to visit Indonesia.

Seusai berdiskusi di kantornya, @ElonMusk mengajak saya meninjau lokasi fasilitas produksi roket Space X di Boca Chica, Amerika Serikat. Sejam lamanya kami melihat-lihat dari dekat pabrik roket Space X.

Saya juga telah mengundang Elon Musk untuk datang ke Indonesia. pic.twitter.com/U3TKgfwNBW

— Joko Widodo (@jokowi) May 15, 2022

Musk reportedly said, "Hopefully in November, thank you for the invitation."

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Why It's Important: Indonesia is a resource-rich country, with abundant deposits of minerals such as copper, nickel and tin. The Indonesian government previously has had talks with Musk regarding a potential partnership for manufacturing EV batteries and also on building a rocket launch site in the country, Bloomberg said.

A separate Reuters report, quoting Indonesian officials, said Widodo and Musk met following a round of working-level discussions on a potential investment in the country's nickel industry and the supply of EV batteries.

The development assumes all the more importance because Tesla had to slam brakes on its India plans after the government there refused to reduce export duties on imported cars.

Tesla closed Friday's session at $769.59, up 5.71%, according to Benzinga Pro data.

Photo: Created with an image from Steve Jurvetson on Flickr