Tesla Signs $4.3 Billion Battery Deal With LG, Ends China Dependency
Tesla has signed a major deal worth $4.3 billion with South Korea’s LG Energy Solution (LGES) to supply rechargeable batteries. The batteries come with energy storage systems that run on lithium iron phosphate (LFP), reported Reuters on Wednesday. LGES will export the batteries to the Michigan-based plant to power Tesla EV cars. The move makes Tesla end its reliance on China for rechargeable EV batteries and reduce Chinese imports due to trade tariffs. However, neither Tesla nor LG made the deal public and kept it under wraps. Several officials close to the matter disclosed the partnership to Reuters on the condition of anonymity. Also Read: Demand for Gold Coins & Bars Surge 24%, Jewelry Sales Dip 3.5% in 2025 As the news of the partnership leaked to the media, LG provided a statement of client protection and business confidentiality. “In accordance with our agreement, we are unable to disclose the customer’s identity due to confidentiality obligations,” LGES ...