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On January 30, South Korean battery giant Samsung SDI revealed in a regulatory disclosure that its U.S. subsidiary had clinched a battery supply contract, though the nitty - gritty details remained under wraps. Industry pundits are of the widespread opinion that this contract is linked to Tesla's energy storage system operations. According to reports, Samsung SDI intends to supply batteries valued at 3 trillion won (roughly equivalent to US$2.08 billion). At present, Samsung SDI is vigorously strengthening its foothold in the U.S. market. It has plans to team up with General Motors to construct a factory in Indiana and is also mulling over retrofitting some of its facilities to accommodate lithium iron phosphate (LFP) battery production lines.
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