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Samsung SDI to Supply Tesla with ESS Batteries in Major Three-Year Deal
Samsung SDI is set to supply Tesla, Inc. with ESS batteries in a significant three-year deal worth approximately $2.11 billion, enhancing Teslas supply chain independence.
- Samsung SDI, based in South Korea, is negotiating a deal to supply Tesla, Inc. with ESS (Energy Storage System) batteries, valued at around 3 trillion won.
- The three-year agreement is part of Teslas strategy to lessen dependency on Chinese suppliers for essential components in the electric vehicle industry.
- This partnership with Samsung SDI follows Teslas ongoing collaborations with other South Korean firms, further solidifying its supply chain in the energy storage sector.
Why It Matters
This deal is pivotal as it underscores Tesla, Inc.s commitment to diversifying its supply chain amidst geopolitical tensions, while also positioning Samsung SDI as a key player in the growing energy storage market.