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US government confirms Tesla and LG Energy Solution's $4.3 billion battery deal
Tesla secured a $4.3 billion deal with LG Energy Solution for domestic lithium iron phosphate cells to power Megapack 3, supporting its rapidly expanding energy storage business.
- The U.S. government confirmed Tesla and South Korea's LG Energy Solution signed a $4.3 billion deal to build a lithium iron phosphate battery cell facility in Lansing, Michigan, with production expected in 2027.
- The American-made battery cells will power Tesla's Megapack 3 energy storage systems produced in Houston, establishing a domestic battery supply chain.
- LG Energy Solution is one of the few LFP battery producers in the U.S., previously developing the Lansing facility for a joint venture with GM before the automaker retreated in 2024.
25 Articles
25 Articles
Tesla’s $4.3 Billion Not-so-Secret Is Officially Out
Last July, South Korea’s LG Energy Solution said it inked a $4.3 billion contract to supply batteries to … someone. The secret was as poorly kept as a college frat house, with reports immediately pointing to Tesla as the not-so-mysterious counterparty. Nearly eight months later, LG confirmed its deepened partnership with the Elon Musk-led automaker on Tuesday, after the Department of the Interior included the arrangement in a roundup of energy p…
US government confirms Tesla and LG Energy Solution's $4.3 billion battery deal
The U.S. government on Monday said electric vehicle maker Tesla and South Korea's LG Energy Solution had signed a supply agreement to build a $4.3 billion lithium iron phosphate (LFP) prismatic battery cell manufacturing facility in Lansing, Michigan, with an expected production launch in 2027.
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