LG in Discussions to Supply Batteries To Tesla From its Arizona Factory

LG Energy Solution said on Friday that it is in "active discussions" with Tesla and other electric vehicle startups about supplying batteries from the supplier's proposed Arizona factory in the United States.

LG Energy Solution, which currently supplies batteries to Tesla in China, has stated that it is reviewing investments in the new Arizona battery factory. The remarks were made on a conference call.

LG Corporation, formerly Lucky-Goldstar from 1983 to 1995, is a South Korean multinational conglomerate founded by Koo In-hwoi and managed by his family's successive generations. It is South Korea's fourth-largest chaebol. Its headquarters are located in Yeouido-dong, Yeongdeungpo District, Seoul, in the LG Twin Towers building. LG manufactures electronics, chemicals, and telecommunications products and has subsidiaries in over 80 countries, including LG Electronics, Zenith, LG Display, LG Uplus, LG Innotek, LG Chem, and LG Energy Solution.

Tesla, Inc. is a multinational American automotive and clean energy corporation headquartered in Austin, Texas. Tesla designs and manufactures electric vehicles, home and grid-scale battery energy storage, solar panels and solar roof tiles, and related products and services. Tesla is one of the most valuable companies in the world and, as of 2022, the most valuable automaker. The company had the most global sales of battery-electric vehicles and plug-in electric vehicles in 2021, accounting for 21% of the battery-electric market and 14% of the plug-in market. The company develops and instals photovoltaic systems in the United States through its subsidiary Tesla Energy. Tesla Energy is also one of the world's largest suppliers of battery energy storage systems, with a total capacity of 3.99 GWh.