Tesla could be “hedging its bets” on battery cell supply, if a deal announced by LG Energy Solution really is with the US EV and BESS company.

Tesla energy storage division saw its highest quarterly gross profits as the company’s automotive business continued to see dampened demand.

LG Energy Solution (LG ES) will nearly double the production capacity of battery cells for energy storage systems (ESS) at its Michigan, US, factory by the end of 2026.

LG Energy Solution is ‘proactively responding to market volatilities’ that have seen the South Korean battery manufacturer’s annual operating profits slide 73.4%.

LG ES Vertech has signed a 7.5GWh battery energy storage system (BESS) project deal with Excelsior Energy Capital.

The US battery storage system integrator arm of Korean battery manufacturer LG Energy Solution (LG ES) has signed a 4-year supply deal with developer Terra-Gen.