Tesla to buy batteries for energy storage systems from Samsung SDI for $2 billion

South Korea's Samsung SDI has agreed to supply battery energy storage systems (ESS) to Tesla for more than 3 trillion won ($2.11 billion) over three years. This was reported by the Korea Economic Daily.

Samsung SDI is a South Korean company specializing in the production of batteries, energy storage systems (ESS) and materials for electronics.

The agreement between Samsung SDI and Tesla concerns the supply of ESS batteries, which is a modernized system that combines battery technology with grid connection and provides electricity storage and regulation.

However, there is no official confirmation of the contract details yet. Samsung SDI representatives said that nothing has been decided yet.

If the information is confirmed, this will be a step in Tesla's efforts to expand energy storage capabilities. The American company is actively developing energy solutions in parallel with the production of electric vehicles.

• In July, it became known that Tesla signed a $4.3 billion agreement with South Korean company LG Energy Solution to supply lithium-iron-phosphate (LFP) batteries.