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South Korean battery maker LG Energy Solution is eyeing a deal to build advanced 4680 large-format battery cells for Tesla Inc's electric vehicles in 2023 and has potential US and European production sites.
LG announced last week that it plans to build a US factory to make battery cells for EVs and energy storage systems, catering to the US and global customers and startups.
Tesla has not yet agreed to a deal with LG for the 4680 large-format cylindrical cell production.
LG is facing technological hurdles for its 4680 battery cells, which it has never mass-produced.
Tesla CEO Elon Musk plans to develop new 4680 battery cells in-house, prompting suppliers like LG and Panasonic to undertake the challenge of applying unproven technology or face risks of losing a major customer.
A source said that LG plan to build a new 4680 cell line to supply Tesla’s Giga Berlin in Europe, with Spain is one of the candidates for the European plant.
The plan to develop the 4680 battery cells is meant to reduce production costs, improve battery performance, and increase driving range and help Tesla boost electric vehicle production.
Tesla is running a pilot factory for the 4680 battery cells in California and preparing plants in Texas and Germany.
LG, along with China's CATL supplies smaller cells to Tesla in China.
Panasonic has partnered with Tesla in a $5 billion battery plant near Reno, Nevada, and plans to start a test line for 4680 cells in Japan beginning April 1.
