Tesla signs $4.3B battery deal with South Korea’s LGES, Reuters reports

LG Energy Solution, a South Korean company, has signed a $4.3B deal to supply Tesla (TSLA) with energy storage system batteries, Reuters’ Heekyong Yang and Hyunjoo Jin report. Tesla is looking to reduce reliance on Chinese imports due to tariffs. The lithium iron phosphate batteries will be supplied from LGES’s U.S. factory in Michigan, according to a person familiar with the matter.

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