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Tesla and LG Energy Solution sign $4.3 billion deal

The U.S. confirmed a $4.3 billion deal for Tesla and LG to build a Michigan battery plant. The site will supply LFP cells for energy storage starting in 2027.

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The United States government has officially confirmed a $4.3 billion battery supply agreement between Tesla, Inc. and South Korea-based LG Energy Solution, Ltd.. The deal involves the construction of a lithium iron phosphate (LFP) prismatic battery cell manufacturing facility in Lansing, Michigan, with production scheduled to start in 2027.

A Tesla logo is displayed at a dealership in Berlin, Germany, as seen in April 2025. REUTERS/Annegret Hilse
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