Recently, Indonesian Minister of Ocean and Investment Coordination Luhut said that Tesla is not expected to invest in the country in the near future. Mr. Luhut, who met with Tesla CEO Elon & middot; Musk last month, talked about the meeting at an event in Jakarta on Wednesday.

& ldquo; I said OK, we are doing very well, and if you can't invest in Indonesia for the time being, no problem, Mr Luhut said. & rdquo; it is reported that Luhut talked with Musk about Tesla's investment for more than two hours.

Luhut revealed that Musk is worried about the global economic outlook and the oversupply of the electric car industry.

Tesla made a new round of price cuts last week and launched a new Model 3 to boost sales. Tesla's price reduction this time is Model S and Model X. take the Chinese market as an example, the Model Splash X model has been reduced by 110000 yuan to 220000 yuan.

Mr Luhut said Mr Musk would visit Indonesia in October to negotiate with the Indian government on the satellite Internet service chain. He said this could help connect Indonesia's rural areas, especially in the east, to better access to education and health services.

Indonesia has been throwing olive branches at Tesla in recent years, hoping that the leading electric car company can invest there. Earlier this year, media reported that Tesla was close to reaching a preliminary agreement to build a factory in Indonesia.

Tesla plans to invest in battery materials for electric cars in Indonesia, but has no intention of building a car factory there, Mr Luhut said on social media last month.

Luhute said at the time that because ldquo; was worried about the world economic situation, rdquo;, Musk had decided that ldquo; would postpone any global investment by Tesla, including a commitment to invest in Mexico, rdquo;, within the next year and a half.

In March this year, Tesla announced that he would build an automobile factory in the Mexican state of Nuevo Leon.