LG to commence production of Tesla 4680 batteries later this year

CEO Kim shared at an event for the Korea Battery Industry Association’s Board of Directors that their company plans to commence production of Tesla’s 4680 battery in North America once their new factory in Arizona is completed. Additionally, LG Energy Solution (LGES) will supply Tesla with the 4680 battery cells and is also in discussions with other potential customers. LGES is considering mass-producing the 4680 battery in China at its Nanjing factory.

Meanwhile, Tesla is continuously enhancing its own 4680 production lines and expects 2024 to be a significant year for scaling up production. Elon Musk, during the Q4 and Full Year 2023 earnings call, emphasized the anticipation of ramping orders from their suppliers, stating that it is not about replacing them.

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