Reported about 9 hours ago
Samsung SDI has announced it is in negotiations with Tesla to provide energy storage batteries, a deal potentially valued at over 3 trillion won ($2.11 billion), causing Samsung SDI's shares to rise by more than 8%. This move aligns with Tesla's strategy to decrease dependence on Chinese suppliers amid rising tariffs and geopolitical issues. The agreement would involve an annual supply of 10 GWh of batteries, as South Korean manufacturers pivot from automotive to energy storage production, responding to diminished U.S. subsidies.
Source: YAHOO