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LG Energy Solution (LGES) is still scheduled to begin production of the 4680 batteries for Tesla in August 2024. The company had already disclosed to the media in February of this year that it planned to "soon" start producing 4680 batteries in August or September.
Recently, on June 24th, industry insiders revealed that LGES plans to start producing Tesla's 4680 batteries at its Ochang factory in South Korea before August. At that time, this South Korean supplier will become the world's first large-scale battery manufacturer to produce 4680 batteries.
The initial production capacity of LGES's Ochang factory is expected to be 8GWh, and the annual production of 4680 batteries will be sufficient to supply up to 110,000 electric vehicles. LGES is expected to provide 4680 batteries to Tesla and other car manufacturers.
Ahn Hee-soo, a researcher at South Korea's LS Securities, pointed out that Tesla announced on June 8th that it had produced a cumulative total of 50 million 4680 batteries in Texas, with a daily output of about 120,000 units, but the yield rate is not high. Tesla will definitely rely on batteries provided by LGES and Panasonic.
LGES Arizona Battery Factory Production Capacity Planning
In addition, according to a report by South Korean media on April 22nd this year, Tesla has ordered electrodes worth 60 trillion won (about $4.36 billion) from LG Energy Solution (LGES) to advance its own battery production.
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