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Tesla and LG Energy Solution will invest $4.3 billion in a battery factory in Michigan.
Investing.com - According to a U.S. government announcement, Tesla (NASDAQ:TSLA) and LG Energy Solution (KS:373220) will invest $4.3 billion to build a battery manufacturing plant in Michigan, as part of a broader effort to strengthen the domestic energy supply chain.
The statement said the plant will be located in Lansing and will start producing lithium iron phosphate (LFP) square batteries in 2027. These batteries will power Tesla’s Megapack 3 energy storage systems manufactured in Houston.
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The project expands Tesla’s partnership with LG Energy Solution, aiming to boost U.S. domestic battery production and reduce reliance on overseas supply chains.
This investment was announced as part of a series of broader energy and infrastructure deals during the Indo-Pacific Energy Summit supported by the Donald Trump administration.
Officials said the initiative aims to ensure the supply of critical minerals and clean energy technologies while supporting U.S. job creation and industrial growth.
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