FT News Briefing Indonesia’s nickel is a gold mine
5 snips
May 14, 2024 The discussion highlights Indonesia's pivotal role in the global nickel market, as Stellantis considers a significant investment in local resources. The environmental impact of nickel mining is scrutinized amidst the shift toward electric vehicles. Meanwhile, the revival of meme stocks, particularly GameStop, captures attention once again. Additionally, insights are offered into the new Russian defense minister and his likely influence on the ongoing conflict, alongside China's ambitious plan to sell $140 billion in bonds to rejuvenate its economy.
AI Snips
Chapters
Transcript
Episode notes
Indonesia's Nickel Dominance
- Stellantis, maker of Jeep, Fiat, and Chrysler, considers Indonesian nickel crucial for its EV strategy.
- Indonesia's dominance in nickel production necessitates partnerships for securing EV battery materials.
Long-Term EV Focus
- Despite a temporary shift towards hybrid vehicles, the long-term trend remains electric.
- Western automakers must secure resources now to compete with integrated Chinese EV manufacturers.
Meme Stock Resurgence
- GameStop's shares nearly doubled after a post by "Roaring Kitty" (Keith Gill) on X (formerly Twitter).
- Gill, known for his role in the 2021 meme stock surge, triggered renewed interest in previously targeted companies like AMC and BlackBerry.