Indonesia Says Tesla Secures $5 Billion Nickel Supply Deal

Tesla Inc. has struck a deal worth about $5 billion to secure nickel supplies from Indonesia over the next five years, a government minister said in an interview on CNBC, the latest effort by the electric-vehicle maker to secure its own supplies of critical raw materials for batteries.

The contract involves companies including Zhejiang Huayou Cobalt Co. and will let Tesla get raw material for lithium-ion batteries from Indonesia’s nickel-focused Morowali Industrial Park, Luhut Panjaitan, coordinating minister for maritime affairs and investment, told CNBC Indonesia in an interview on Monday.

The EV market leader has said that it expects its ...