Samsung SDI said it is in talks with Tesla to supply batteries.

South Korean battery manufacturer Samsung SDI stated in a regulatory filing that it is currently in talks with Tesla regarding battery supply. Samsung SDI mentioned that no details have been confirmed yet. The Korea Economic Daily previously reported that Samsung SDI has reached an agreement with Tesla to supply approximately 10GWh of energy storage system batteries annually for at least three years. Sources familiar with the matter quoted in the report estimate that this deal could be worth between 1 trillion and 1.5 trillion South Korean won each year. Samsung SDI plans to convert part of its joint venture factory in Indiana with Stellantis to produce this type of battery. On the other hand, LG Energy Solution signed a contract with Tesla in July to supply 20GWh of energy storage system batteries annually and is currently negotiating to increase the supply by 50% to reach 30GWh per year.