The world’s most popular electric vehicle (EV) maker, Tesla, Inc. (TSLA), is being pursued by Indonesia to build an entire “end-to-end” industry in the country. Shares of Tesla closed up 2.4% at $650.28 on June 17. EV makers are fighting a race to supremacy but are haunted by the ever-increasing input prices of raw materials for both vehicles and batteries. Tesla increased the prices of some of its high-end EVs recently in a bid to overcome rising production costs. Indonesia’s Proposal Tesla CEO Elon Musk has noted his intent to directly mine and refine lithium to control costs and to improve the inadequate supply of the metal.
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