Indonesia is in the final stages of developing a set of incentives aimed at attracting investment from electric vehicle (EV) manufacturers, an Indonesian senior minister said on Tuesday. The government is currently engaged in discussions with major companies including US-based Tesla and China’s BYD. The incentives will be benchmarked against those provided by neighboring competitors like Thailand and Vietnam, according to Luhut Pandjaitan, the Coordinating Minister of Maritime Affairs and Natural Resources. Luhut further disclosed that he is scheduled to meet with BYD executives in Chengdu, China, on Thursday, and has an upcoming meeting with Tesla’s CEO, Elon Musk, on August 3 in California, US. Additionally, as the largest economy in Southeast Asia, Indonesia has been actively pursuing EV manufacturers to invest in the country by showcasing its abundant nickel reserves, which can be used for producing EV batteries. However, some automakers, such as BYD, have opted to invest in Thailand, while Tesla has been in talks with Indian officials to explore the potential of establishing an EV factory in India. [Reuters]