Tesla‑LG $4.3B battery deal
Tesla struck a $4.3 billion cell-supply tie-up with LG Energy to produce cells in Michigan, a move analysts say will boost home battery availability and demand for Powerwall installations. That could increase homeowner interest in paired EV charger + storage projects in suburbs like Carver. (tradingview.com; renewableenergymagazine.com)
The U.S. Department of the Interior publicly identified Tesla as the purchaser named in LG Energy Solution’s previously undisclosed LFP supply contract and said American-made cells will feed Tesla’s Megapack 3 program. (finance.yahoo.com) LG’s original regulatory disclosure quantified the order as 5.9442 trillion won and set an initial three‑year delivery window from August 2027 through July 2030 with options to extend the term up to seven years. (ajupress.com) The Michigan production site cited by officials sits in Delta Township west of Lansing and was formerly part of the Ultium Cells joint venture before GM agreed to sell its stake to LG in late 2024/early 2025. (wlns.com) Officials and reporting specify the cells will be lithium‑iron‑phosphate (LFP) prismatic format destined for Megapack 3 units, which Tesla introduced using larger 2.8‑liter LFP cells to reach roughly 5 MWh per Megapack. (supplychaindive.com) LG’s July filing said the contract amount would represent roughly 23.2% of LGES’s 2024 revenue, and industry notices show equipment orders and retooling are already underway to hit a 2027 production start. (ajupress.com) Tesla’s new Megafactory plan in the Houston area is being sized to assemble Megapack 3 at scale—reports place planned Megapack production capacity near 50 GWh per year—while analysts note Tesla’s stationary storage deployments have been growing rapidly in recent quarters. (techcrunch.com)
