U.S. Confirms Tesla as Buyer in LG Energy Solution's $4.3 Billion Battery Deal
The U.S. government has confirmed Tesla Inc. as the buyer in a July battery supply deal with LG Energy Solution. The agreement, worth $4.3 billion, includes plans for a lithium iron phosphate (LFP) battery cell manufacturing facility in Lansing, Michigan, with production set to begin in 2027. The deal will supply LFP batteries for Tesla's Megapack 3 systems, reinforcing the domestic battery supply chain.
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The U.S. Department of the Interior confirmed that Tesla Inc. is the buyer in a battery supply agreement with LG Energy Solution, announced in July. The deal involves a $4.3 billion investment to construct a lithium iron phosphate (LFP) battery cell manufacturing facility in Lansing, Michigan, with production starting in 2027.
This facility will produce batteries for Tesla's Megapack 3 energy storage systems, enhancing the domestic battery supply chain. LG Energy Solution is contracted to supply LFP batteries from August 1, 2027, to July 31, 2030, marking a significant partnership.
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