LG Energy Solution signs $4.3bn contract to supply Tesla with batteries.
LG Energy Solution confirmed on Tuesday that it has signed a $4.3bn contract to supply Tesla with energy storage system batteries.
Tesla Motors Inc
17 March 2026 13:07:20
Source: Sharecast
The confirmation came after the US Department of the Interior said on Monday that the two companies had signed a supply agreement to build a lithium iron phosphate (LFP) prismatic battery cell manufacturing facility in Lansing, Michigan, with an expected production launch in 2027.
It said: "American-made cells will power Tesla's Megapack 3 energy storage systems produced in Houston, creating a robust domestic battery supply chain."
South Korea’s LG Energy Solution first disclosed the contract in July last year, but did not name the buyer.
The agreement was announced as part of a broader statement from the US Department of the Interior in which it outlined deals totalling $56bn during the Indio-Pacific Energy Security Summit.
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