The President Donald Trump administration’s Department of the Interior (DOI) has revealed a series of deals totaling around $56 billion, including a deal between Tesla Inc. and South Korea’s LG Energy Solutions to kick off production of a $4.3 billion battery plant.
In an official statement released on Monday, the agency confirmed that it had “catalyzed” agreements worth over $56 billion in “private sector commitments that will create good-paying American jobs and secure critical energy supply chains.” Among the agreements, the DOI also mentioned the deal between Tesla and LG Energy.
Don’t Miss:
“Tesla and LG Energy Solution are expanding their partnership with a supply agreement to build a $4.3 billion LFP prismatic battery cell manufacturing facility,” the statement said. It added that the facility in Lansing, Michigan, will kick off production in 2027 for the automaker’s Megapack 3 energy storage system, produced in Houston, Texas.
The news comes as Tesla had earlier signed an agreement worth $2 billion with South Korea’s Samsung SDI, after the company recorded sustained growth in its energy storage business, deploying a record 14.2 gigawatt-hours worth of batteries in Q4 2025.
The company had also filed a patent, unveiling a breakthrough in battery chemistry. The patent detailed a new ‘dicarbonate’ solvent (Dimethyl 2,5-dioxahexanedioate or DMOHC) and a new Lithium bis(fluorosulfonyl)imide (LiFSI) salt. The new chemistry can help a Lithium-Ion battery perform more efficiently under high voltage and high temperature conditions.
Read Next:
Photo courtesy: Shutterstock
Up Next: Transform your trading with Benzinga Edge’s one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today’s competitive market.
Get the latest stock analysis from Benzinga:
This article Trump Administration Confirms Tesla Will Build $4.3 Billion Battery Plant In Michigan With LG Energy originally appeared on Benzinga.com
