japanese carmaker toyota motor corp tm is reportedly planning to invest 18 billion in indonesia over the next five years to manufacture electric vehicles according to the country’s economics ministry indonesia is planning to tap its rich nickel resources which are used in lithiumion batteries to become a global hub for manufacturing and exporting electric vehicles reported reuters also read why nonprofits are urging elon musk not to invest in indonesias nickel industry talks with japan the announcement comes after indonesias coordinating minister for maritime affairs and investment luhut binsar pandjaitan urged japan to invest in the ev industry and other infrastructure projects while asserting that the country is well placed for postcovid economic growth reported nikkei asia the talks took place on the sidelines of indonesian president joko widodos visit to japan the indonesian president discussed economic cooperation and infrastructure development with japanese prime minister fumio kishida in tokyo on wednesday interesting projects in his presentation pandjaitan discussed projects including a large industrial park and ev battery projects in eastern indonesia he said details over a potential investment by tesla inc tsla are being finalized the minister said the industrial park under development which will be just 200 km from indonesias new capital city nusantara would be a “game changer” china saudi arabia and abu dhabi have also expressed interest in participating in the investment he said read next euro recovers partially against dollar after 1 fall russia gas cut us rate hike worries linger