US EditionTesla signs $4.3 billion battery deal with LGES, source says, reducing China reliance
UNITED STATES, JUL 30 – The $4.3 billion deal secures U.S.-made lithium iron phosphate batteries for Tesla's energy storage, reducing reliance on Chinese suppliers with production at LGES's Michigan plant.
29 Articles
29 Articles
LG Energy Solutions has signed a $4.3 billion deal to supply Tesla with batteries for its energy storage systems (ESS) from its Michigan factory. The batteries use LFP (lithium iron phosphate) technology, which does not rely on Chinese imports, which already face high tariffs in the US. The contract will run from August 2027 to July 2030, with the option to extend for up to seven years. LGES is currently the only major producer of these batterie…
Tesla Signs $4.3 Billion Battery Supply Contract With LG Energy
Tesla Inc. has signed a $4.3 billion agreement to source lithium iron phosphate, or LFP, batteries from LG Energy Solution Ltd., a person familiar with the matter said, in the second tie-up for the EV maker in South Korea this month.
Tesla signs $4.3 billion battery deal with LGES, source says, reducing China reliance
South Korea's LG Energy Solution (LGES) has signed a $4.3 billion deal to supply Tesla with energy storage system batteries, said a person familiar with the matter, as the U.S. company looks to reduce reliance on Chinese imports due to tariffs.
Coverage Details
Bias Distribution
- 69% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
