Tesla will purchase Energy Storage System (ESS) batteries worth 3 trillion won (approximately $2.11 billion) from South Korean technology giant Samsung SDI over the next three years. This agreement is based on information obtained from the industry by the Korea Economic Daily newspaper.
The report states that the two companies aim to deepen their strategic cooperation in energy storage solutions. ESS batteries play a critical role in the efficient use of renewable energy sources and in stabilizing electricity grids.
This step is seen as an important part of Tesla’s strategy to increase its energy storage capacity. Recently, the company has been focusing on strengthening its leadership not only in electric vehicle production but also in green energy technologies.
Samsung SDI will further strengthen its position in the global battery market with this agreement.
