According to foreign media reports, Tesla is said to be close to reaching an electrode supply agreement with South Korean company LG New Energy, which will provide support for Tesla’s mass production of electric vehicles.
Tesla is currently preparing to further increase the scale of internal battery production.
Tesla has ordered 6 trillion won ($4.
4 billion) worth of electrodes from LG New Energy, enough for 1.
3 million to 1.
4 million electric vehicles, South Korean media reported, citing industry insiders.
Tesla has placed an order, but the final details of the contract are still under discussion, the report said.
Tesla’s purchasing team recently ordered 6 trillion won worth of electrodes from LG, and the two sides are having detailed discussions and a contract is expected to be signed in the second half of the year, according to a person familiar with the matter.
” Photo: Tesla, this figure is equivalent to about 70% of Tesla’s output (more than 1.
8 million vehicles) in 2023, which also means that Tesla is preparing for large-scale self-production of electric vehicle batteries.
The source added: “supply will start next year and is expected to last for six to seven years, which is in line with Tesla’s modified model release cycle.
” This means that Tesla will produce his own batteries by purchasing electrodes, which are the key materials.
At present, Tesla’s internal production of the battery has begun.
” In February, Kim Dong-myeong, CEO of LG New Energy, confirmed that the company would start producing Tesla’s latest generation of 4680 cells, which is crucial for Cybertruck batteries.
LG New Energy’s Ochang plant in North Chungcheong Province, South Korea, produces the cells.
Later this year, LG New Energy will also build a new American plant in Arizona.
Tesla has also made progress in building his own lithium refinery in Robstown, Texas, which is expected to eventually produce 50 GWh battery-grade lithium per year.
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