Tesla to buy batteries from South Korea’s LG Chem: international monetary Fund

A FILE PHOTO of Tesla’s super chargers will be shown, in Mojave, California, USA July 10, 2019 at the latest. REUTERS/Mike Blake

(Reuters) – Tesla Inc. (TSLA.(O) agreed to buy the batteries from South Korea’s LG Chem Ltd (051910.CS) for electric vehicles produced in China, Bloomberg reported on Friday, citing people familiar with the matter.

The batteries will be made by the South Korean chemical company, will, in the first instance, to be used in the Model 3 car, which will be produced at the plant in the vicinity Shanghai, the report said.

Tesla did not immediately respond to Reuters ‘ request for comment.

Reporting Aakriti Bhalla in Bengaluru; Editing by Sherry Jacob-Phillips

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