A South Korea’s LG power solution is signed by the battery supply deal at $ 4.3 billion

LG Energy Solution, which is based in South Korea, announced that it had signed a contract worth $ 4.3 billion to supply batteries to a major company, without naming the customer.

The date of the validity of the contract – the receipt of requests – began on Tuesday and will be concluded at the end of July 2030. During this period, the opposite party will not be revealed to maintain the work of the work, which is the company The application was shown with a Korea exchange Wednesday. Reuters I mentioned that Tesla was the opposite party.

Earlier this week, Elon Musk, CEO of Tesla, confirmed that the EV maker was behind a dance contract that was not disclosed by $ 16.5 billion with Samsung Electronics in South Korea.

LG Energy said in its file that the details of the agreement, such as the amount of the deal, were vulnerable to change, and the contract period could be extended for up to seven years.

The value of the contract that was disclosed exceeds the revenues of the Korean company, which costs 5.6 trillion ($ 4.05 billion) for the second quarter of this year.

The company warned: “Investors are advised to carefully consider the possibility of making changes or termination of the contract when making investment decisions.” The stocks were trading 0.26 %.

The deposit did not clarify whether the lithium iron phosphate batteries were used in vehicles or energy storage systems. Among its main customers in the battery is the American electric car makers Timing and General Motors.

The company expands its manufacture in the United States, with its first center in the manufacture of North American batteries, in Michigan, Online In the second quarter of this year. The company also Construction In Arizona, which will produce lithium iron phosphate batteries.

LG Energy Solution and Tesla did not immediately respond to CNBC requests for comment.