LG Energy Solution
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Tesla to Purchase $4.3 Billion in Michigan-Made LG Energy Battery Cells
Tesla is investing $4.3 billion in energy storage, partnering with LG Energy Solution for battery cell supply. Production will occur at LG’s Lansing, Michigan facility, previously a GM joint venture. This move highlights Tesla’s strategic shift towards its growing energy business, driven by demand from data centers and renewable energy integration. Tesla’s energy segment saw 27% revenue growth last year, contrasting with automotive declines. The collaboration underscores Tesla’s commitment to large-scale solutions like Megapack, alongside residential Powerwall.
