LG Energy Solutions, a leading South Korean battery maker, has actually secured a multi-billion dollar deal to supply advanced lithium-ion phosphate (LFP) batteries, supposedly to Tesla. This landmark agreement, initially kept under covers, marks a tactical shift for Tesla, which selected LG's advanced batteries over its prior tentative contract with CATL. LG's brand-new LFP batteries boast a remarkable energy density of around 230 watt-hours per kg, offering up to 20% more variety than competitors' LFP batteries. This is achieved through innovative precursor-free cathode technology, which decreases production expenses and ecological impact while boosting efficiency and cold-weather efficiency. Furthermore, LG has actually incorporated mid-nickel cathodes (50-70% nickel) into these LFP batteries, increasing energy density by 50% compared to standard LFP batteries while staying 10% cheaper than high-nickel options. This hybrid technique leverages the decreasing expense of nickel, making it an economical yet high-performance solution. Tesla's choice to source these batteries from LG's U.S. centers, consisting of a new Michigan factory producing 16.5 gigawatt-hours annually, aligns with efforts to localize its supply chain and prevent tariffs. This deal positions Tesla to maintain its competitive edge in the EV market, providing lorries with remarkable range and performance. LG's improvements could set a brand-new requirement for EV batteries, potentially affecting the wider market as need for economical, high-performance options grows.
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