Tesla: Billion-Dollar Alliance with LG Energy Boosts the Profitable Storage Business!
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The electric car maker Tesla is advancing the expansion of its profitable business with stationary energy storage systems by forming an alliance with the South Korean battery producer LG Energy Solution. As both companies announced, they plan to establish a joint battery factory in the US state of Michigan. The new facility in Lansing is estimated to have an investment volume of about 4.3 billion USD and is intended to supply the American production of Tesla’s storage systems. This step emphasizes the operational realignment of the company, which...
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