Thursday, 31 July 2025

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Tesla signs $4.3 billion battery deal with LGES

 Published: 12:26, 30 July 2025

Tesla signs $4.3 billion battery deal with LGES

South Korea's LG Energy Solution  has signed a $4.3 billion deal to supply Tesla with energy storage system batteries, said a person familiar with the matter, as the US company looks to reduce reliance on Chinese imports due to tariffs.

The lithium iron phosphate (LFP) batteries will be supplied from LGES's US factory in Michigan, the person said on condition of anonymity because the details were not public.

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