LG Energy South South Korea signs 4.3 billion dollars with battery supply

South Korea LG Energy Solution announced on Wednesday that she signed a $ 4.3 billion contract to supply large corporation batteries without calling the client.

The date of entry into force of the contract – receipt of orders – began on Tuesday and ending in late July 2030. During this period counterparty will not be revealed to maintain privacy, company, company Submission to Korean exchange showed Wednesday. Reuters It was reported that Tesla was a counterpart.

Earlier this week, Tesla CEO Elon Musk confirmed that the EV manufacturer was behind a previously undisclosed contract with a $ 16.5 billion chip with Samsung Electronics South Korea.

In its submission, the LG Energy stated that contract data such as the amount of the deal have been changed, and the contract period could be extended to seven years.

“Investors are advised to carefully consider changing or terminating the contract when making investment decisions,” the company warned. This stock traded 0.26% below.

The supply did not specify whether the lithium will be used -yellow phosphate batteries in vehicles or energy storage systems. Its main battery clients include American electric cars manufacturers Tesla and General Motors.

The company extends its Battery production In the United States and builds a plant in Arizona, which will produce lithium -yellow phosphate batteries.

LG Energy Solution and Tesla did not immediately respond to CNBC requests for comment.