According to The Korea Economic Daily, the contract between Tesla and LGES is worth $4.3 billion. LGES will begin supplying Tesla with cells next August through until at least the end of July 2030, with provisions to extend the contract if necessary.

The South Korean battery maker secured a deal to supply Tesla with lithium iron phosphate batteries for three years.

Musk noted Tesla is working with TSMC to make AI5 chips, which just finished the design. The AI5, a generation that is primarily built for FSD, will initially be made in TSMC’s Taiwan factory and then at its Arizona facility. Samsung already makes the AI4 chip, according to Musk.