LG Energy Solution signs $4.3 billion battery supply agreement with Tesla

2025-07-30 10:05:34

South Korean battery manufacturer LG Energy Solution has signed a $4.3 billion contract to supply Tesla with lithium iron phosphate (LFP) batteries for energy storage systems. The person, who requested anonymity because the details are private, said the batteries will be supplied by LG Energy Solution's U.S. factory. LG Energy Solution announced earlier on Wednesday that it had signed a three-year, $4.3 billion global supply contract for LFP batteries, but did not disclose the identity of the client. LG Energy Solution's major customers include Tesla and General Motors. The company did not specify in its announcement whether the LFP batteries would be used in vehicles or energy storage systems. LG Energy Solution said: "According to the agreement, we are unable to disclose the identity of the customer due to confidentiality obligations." Tesla did not immediately respond to a request for comment.

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