Overview
- LGES’s regulatory filing covers battery deliveries from August 2027 through July 2030 for an unnamed client widely reported to be Tesla.
- The 5.9 trillion-won contract equals about 23.2 percent of LGES’s 2024 sales, marking its largest energy storage system order.
- Production will take place at LGES’s Michigan plant, bolstering U.S. domestic output of cost-efficient LFP batteries.
- The agreement includes provisions to extend or adjust the contract term by up to seven years based on client consultations.
- The deal supports Tesla’s move to secure non-Chinese LFP supplies and navigate rising tariffs on battery imports.