Tesla reaches $5 billion purchase agreement with nickel processing company

$Tesla(TSLA.US)$ has signed a $5 billion deal to buy battery materials from Indonesian nickel processing companies over five years, Indonesian officials said on 8 August.
Indonesia, which has large nickel reserves, has long wanted Tesla to build a plant there, and earlier this year the country's president, Joko Widodo, met with Tesla CEO Musk.