LG Chem To Produce Tesla Batteries In South Korea This Year: Report

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  • As per the report, a second person with knowledge of the situation also said LG Chem is converting some of its production in South Korea to produce batteries for Tesla
  • An LG Chem factory in Nanjing, China, already makes batteries for Tesla

As per a report by Reuters, South Korea’s LG Chem Ltd plans to start producing batteries for Tesla Inc vehicles at a domestic factory this year. This will be done after the Tesla raised orders to cope with demand said the report as per a person familiar with the matter. This person told Reuters that Tesla is asking not only LG Chem but other suppliers to increase supplies, as its cars are selling well.

As per the report, a second person with knowledge of the situation also said LG Chem is converting some of its production in South Korea to produce batteries for Tesla. The report added that an LG Chem factory in Nanjing, China, already makes batteries for Tesla. The Reuters report said that both sources spoke on the condition of anonymity, citing the confidentiality of the matter.

Joint battery factory with Japan’s Panasonic Corp

The report added that Tesla announced forecast-beating global vehicle deliveries for the April to June period, shrugging off a U.S. production suspension due to the coronavirus pandemic. It runs a joint battery factory with Japan’s Panasonic Corp in the United States. It added LG Chem and China’s CATL as suppliers for its factory in Shanghai.

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