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Samsung SDI is reportedly in advanced talks with Tesla to supply energy storage batteries in a deal potentially exceeding 3 trillion won ($2.11 billion), according to South Korean media. The news sparked a surge in Samsung SDI’s stock, which jumped over 8% in early trading.
If finalized, the agreement would mark another significant step by Tesla to diversify its supply chain and reduce reliance on Chinese manufacturers amid ongoing tariffs and geopolitical tensions. In recent months, Tesla has strengthened its ties with South Korean technology giants, securing chip and battery supply deals with Samsung Electronics and LG Energy Solution.
Energy storage batteries—closely related in chemistry to electric vehicle (EV) batteries—are increasingly used to power large facilities such as data centers. South Korean battery producers, including Samsung SDI, have been repurposing their EV battery production lines to meet growing demand for energy storage systems (ESS), especially after the loss of U.S. EV subsidies.
During its October earnings call, Samsung SDI revealed a sharp decline in automotive battery demand from Stellantis, its joint venture partner, prompting a shift in its Indiana-based production lines toward ESS manufacturing. Sources close to the matter told Reuters that Tesla and Samsung SDI are discussing an annual supply volume of about 10 GWh over three years.
While details remain unconfirmed, The Korea Economic Daily reported that the three-year contract could exceed 3 trillion won in value. Tesla has previously acknowledged that its energy storage division faces challenges from rising tariffs and intensified competition, with current supply chains primarily based in China.
As discussions continue, the potential Tesla–Samsung SDI partnership underscores a broader industry trend: Western automakers increasingly turning to South Korea for high-quality, reliable battery solutions to support global clean energy and electrification goals.
