South Korea's Samsung SDI is discussing supplying ESS (Energy Storage System) batteries to Tesla in an order reported to be worth around 3 trillion won ($2.11 billion) or more.
The deal, if signed, would mark the latest push by Tesla to reduce reliance on China for key parts. Tesla has signed deals with South Korean companies, Samsung Electronics and LG Energy Solution, to source chips and batteries in recent months.
South Korean battery makers are also scrambling to repurpose electric vehicle battery production lines to produce energy storage systems, hit by the elimination of U.S. subsidies.
Samsung SDI said during an earnings call earlier this month that it has seen a big fall in battery demand from joint venture partner Stellantis, and will convert some of its EV production lines in the U.S. state of Indiana to make ESSs.
South Korean newspaper the Korea Economic Daily said on Monday that Samsung SDI had reached an agreement to supply Tesla with ESS batteries over three years.
Tesla did not have an immediate comment.
The deal, if signed, would mark the latest push by Tesla to reduce reliance on China for key parts. Tesla has signed deals with South Korean companies, Samsung Electronics and LG Energy Solution, to source chips and batteries in recent months.
South Korean battery makers are also scrambling to repurpose electric vehicle battery production lines to produce energy storage systems, hit by the elimination of U.S. subsidies.
Samsung SDI said during an earnings call earlier this month that it has seen a big fall in battery demand from joint venture partner Stellantis, and will convert some of its EV production lines in the U.S. state of Indiana to make ESSs.
South Korean newspaper the Korea Economic Daily said on Monday that Samsung SDI had reached an agreement to supply Tesla with ESS batteries over three years.
Tesla did not have an immediate comment.
You may also like
UPPSC Vacancy 2025: Applications open for two new government vacancies in UP, salary up to ₹1.42 lakh, know eligibility..
Kavya Maran's Former Associates Showered with Luck as LSG Rebuilds for IPL 2026
Priyanka Chopra and Mahesh Babu's film title leaked online
Two youth tied to tree, heads shaved, assaulted in Gujarat's Kutch
Yashasvi Jaiswal Century: Proves Why He's No. 1 Opener in 45 Years
