Tesla to buy $4.3 billion of LG Energy battery cells from disbanded GM plant [CNBC]
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Source: CNBC
The cells will be made by LG at a plant that was formerly developed for a joint venture between the Korean battery giant and General Motors before the automaker decided to retreat. Details of the Tesla-LG partnership were announced as part of $56 billion in private sector commitments during an Indo-Pacific Energy Security Summit in Japan. In this article A Tesla Inc. Megapack battery after being placed into position at the Harmony Energy Ltd. and Fotowatio Renewable Ventures BV (FRV) battery energy storage project near Burgess Hill, U.K. on Tuesday, May 11, 2021. The Contego project, in southeast England, will be made up of 28 Tesla Megapack batteries that can store energy from renewable sources to be used at times of peak consumption. Photographer: Chris Ratcliffe/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Tesla is expanding ties with South Korea's LG Energy Solution, striking a deal to buy $4.3 billion worth of battery cells for energy storage systems
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