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South Korea’s LG Energy Solution (LGES) has signed a $4.3 billion deal to supply Tesla with energy storage system batteries, said a person familiar with the matter, as the US company looks to reduce reliance on Chinese imports due to tariffs.
The lithium iron phosphate (LFP) batteries will be supplied from LGES’s US factory in Michigan, the person said on condition of anonymity because the details were not public.
LGES announced earlier on Wednesday that it had signed a $4.3 billion contract to supply LFP batteries over three years globally, without…
