US EditionSamsung SDI and Tesla in Talks for Trillion-Won ESS Battery Deal
Tesla will receive lithium-iron-phosphate cells for its Energy Storage System products from Samsung SDI, aiming to produce 30 GWh annually by late 2026 amid supply diversification efforts.
- On Tuesday, Tesla reached an agreement worth over 3 trillion won with Samsung SDI to supply energy storage cells for Megapack and Powerwall products, produced at their joint venture factory with Stellantis in Indiana.
- Years of talks culminated in Tesla seeking to diversify battery supply from Chinese suppliers due to tariffs and geopolitical tensions, following a prior ESS deal with LG Energy Solution.
- Annual supply is pegged at 10 GWh per year for Tesla's ESS needs, using LFP cells for stationary storage, while Samsung SDI targets 30 GWh capacity by the end of next year.
- The pact bolsters Tesla Energy division, which has been a silver lining amid two years of EV decline, as demand from AI and data center customers for Megapack and Powerwall remains strong into next year.
- Market reaction was positive as Samsung SDI shares rose by more than 8%, reflecting limited U.S. domestic ESS-capable manufacturers including Samsung SDI and LG Energy Solution, amid South Korean repurposing of EV lines.
12 Articles
12 Articles
Samsung SDI and Tesla in Talks for Trillion-Won ESS Battery Deal
South Korean battery maker Samsung SDI is negotiating with Tesla for an energy storage system (ESS) battery supply deal potentially worth trillions of won. Talks are in early stages, and production may occur at Samsung's joint plant in Indiana, reflecting efforts to meet North America's growing ESS demand.
Tesla eyes $2.11 billion battery deal with Samsung to cut China reliance
SEOUL (Reuters) — South Korea’s Samsung SDI said on Tuesday it is in talks to supply energy storage batteries to Tesla, in an order that Korean media said could be worth more than 3 trillion won ($2.11 billion). Samsung SDI shares soared more than 8% on the news. A deal would mark the latest push by Tesla to reduce reliance on China for key parts, fueled by tariffs and geopolitical tensions. Tesla has signed deals with South Korean companies Sam…
Tesla and Samsung SDI in talks over new US battery storage deal: report
Recent reports have suggested that Tesla and Samsung SDI are in talks over a potential partnership to supply batteries for large-scale energy storage systems (ESS). The update was related by industry sources and initially reported by South Korean news outlets. ESS batteries to be built at Samsung’s Indiana plant As noted in a report from Korea JoongAng Daily, the demand for energy storage systems has been growing rapidly in North America, than…
Coverage Details
Bias Distribution
- 60% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
