LGES to supply LFP batteries to Tesla for energy storage
Big news: LG Energy Solution (LGES) is teaming up with Tesla in a $4.3 billion deal to supply lithium iron phosphate (LFP) batteries for energy storage systems.
The contract runs from August 2027 to July 2030, with an option to extend for seven more years if all goes well.
Deal could help US build local supply chains
These LFP batteries will be made at LGES's Michigan factory, which only started rolling them out in May.
They're safer and cheaper than traditional nickel-based batteries—a win for both the planet and your wallet.
This move also shows how US companies are working hard to build local supply chains instead of relying on imports, especially as the EV and clean energy race heats up.
For anyone curious about where clean tech is headed, this is one of those deals that could shape the future.