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Indonesia could impose a tax on nickel exports this year as Southeast Asia’s largest economy looks to be a bigger player in the electric vehicle industry.

The biggest producer of the EV battery metal, which is also used to make stainless steel, Indonesia is looking to add more value locally in a bid to boost revenues and jobs, President Joko Widodo told Bloomberg Editor-in-Chief John Micklethwait in a wide-ranging interview in Jakarta.

The potential move, which was flagged earlier this year by another official, is one step on a path that could ultimately mean a ban on exports of all raw materials. The more certain levy in the near future is a carbon tax before the end of the year, the plans for which the president confirmed as the country shoots for carbon neutrality by 2060.

Read more at: What’s Happening in the World Economy: Indonesia’s Export Tax Plan – Bloomberg