LG Energy Solutions aims to build Tesla 4680-cells by 2023. To support this, LG is considering potential production sites in both Europe and the United States.
The new potential production sites would produce the 4680 cells for the next generation of Tesla vehicles. Rumours have swirled that Tesla would bring battery production in-house.
The 4680-cell project is complex, and sources believe LG will move quickly to secure a plant location to meet their targets.
Currently, LG is a supplier of the 2170 battery cells used on the Model 3 and Model Y produced at Giga Shanghai. As well, LG has a $2.3 billion joint-venture with General Motors to produce pouch-type EV batteries in Ohio.
Both LG and Tesla have not commented on these rumours. As per Tesla sources, the company has yet to agree to expand the current deal with LG.