Tesla signs $4.3 billion battery deal with LGES, aims to reduce China reliance
Reuters has reported that Tesla has been looking to reduce reliance on Chinese suppliers amid the ongoing tariff war and policy headwinds. As a result, Tesla aims to reduce its imports from China. The report also stated that LFP batteries will be supplied from LGES's US factory in Michigan.
LGES said earlier on Wednesday that it had signed a $4.3 billion contract to supply LFP batteries over three years globally, without identifying the customer. However, the announcement by the company, whose major customers include Tesla and General Motors, did not say whether the LFP batteries would be used in vehicles or energy storage systems.
Tesla currently imports LFP batteries from China, but higher tariffs have made it increasingly difficult for US companies to import LFP batteries from China. Tesla's Chief Financial Officer (CFO), Vaibhav Taneja, said in April 2025 that the EV company was looking to secure non-Chinese battery suppliers for its energy storage business due to tariffs, but it would take time.
The LFP deal comes amid a scramble by countries and companies globally to strike tariff agreements with Washington, and after South Korea's Samsung Electronics and Tesla this week announced a $16.5 billion chip supply deal.
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