• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 35 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 31 mins How Far Have We Really Gotten With Alternative Energy
  • 2 hours If hydrogen is the answer, you're asking the wrong question
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 15 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
New Technology Is Fueling America’s Oil Boom

New Technology Is Fueling America’s Oil Boom

The US achieved record-breaking oil…

Tajikistan’s Controversial Roghun Dam 'Too Big to Fail'

Tajikistan’s Controversial Roghun Dam 'Too Big to Fail'

Tajikistan is pushing forward with…

Tesla Discusses Batteries For Its China-Made Cars With LG Chem

Tesla is at an advanced stage of talks with South Korea’s LG Chem to use batteries other than Panasonic’s for the electric vehicles it would be manufacturing at its Chinese factory in Shanghai, a source familiar with the discussions told Reuters on Friday.

Earlier on Friday, Bloomberg reported—citing people familiar with the issue—that the U.S. electric vehicle maker had agreed to buy batteries from the South Korean firm. Initially, Tesla plans to use LG Chem’s batteries for the Model 3s that it will be making at the Shanghai factory, Bloomberg reported.

The talks for battery supply with LG Chem are seen as a move toward diversifying its suppliers as Panasonic is currently its exclusive battery cells supplier.

As early as in November last year, Elon Musk said that Tesla would likely source battery cells from several suppliers for its Chinese production.

Replying to a question on Twitter if Panasonic would be the battery partner for the Shanghai Gigafactory, Musk said on November 2, 2018:

“Tesla will manufacture all battery modules & packs at China Giga, as we do today in California & Nevada. Cell production will be sourced locally, most likely from several companies (incl Pana), in order to meet demand in a timely manner.”

In January this year, Musk joined the mayor of Shanghai for the groundbreaking ceremony of Tesla’s first factory outside the U.S. and in the world’s largest EV market, China.

Related: U.S. To “Drown The World” In Oil

Tesla aims to finish the initial construction of the Shanghai Gigafactory this summer, begin production of Model 3 by the end of this year, and reach high volume production next year, Musk wrote on Twitter on the day of the event in January.

Last month, Morgan Stanley said that Tesla could open its Chinese factory sooner than forecast, adding that it expects the U.S. electric vehicle maker to become “the leading luxury EV player in China.” 

Tesla has started the construction of a production facility in the world’s top EV market in order to be able to compete on a level playing field with a growing number of local EV manufacturers. As a U.S.-made vehicle, Tesla’s cars in China have been subject to steep tariffs, and sales have suffered in recent months due to the U.S.-China trade war.

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News