Tesla's New 4680 Battery Supplier Invests Half a Billion To Channel New Batteries to Tesla
Soon Tesla will have a new 4680 battery supplier. Actually it is the current Tesla supplier LG Energy Solutions, which is investing huge amount of money to start the production 9f 4680 battery cells for Tesla.
Tesla’s longtime battery supplier LG Energy Solutions (LGES) announced that it would invest 730 billion won ($567.76 million) to expand its battery production capacity in South Korea. The expansion includes a new assembly line that would produce 4680 cylindrical battery cells, stated a note to the press LGES provided Teslarati.
The investment is in line with our decision to better cope with the global EV manufacturers’ ever-increasing interests in adopting cylindrical batteries,” said Youngsoo Kwon, CEO of LG Energy Solution. “We will establish a diversified product portfolio that includes pouch-type, cylindrical, and other types of battery cells, to respond in a timely manner to our clients’ needs, thereby improving customer value.”
Armen Hareyan reporting from Torque News.