Seoul, Nov. 5 -- Samsung SDI is reportedly in final talks with Tesla to supply around 3 trillion won (USD 2.1 billion) worth of energy storage system battery cells, signaling the US electric vehicle giant's growing reliance on Korean battery makers amid Washington's push to reduce dependence on Chinese supply chains, as per a report by the Korean Herald.

According to the report on Tuesday, executives from Tesla's ESS division visited Korea last week and reached near-final terms with Samsung SDI on a multi-year supply contract. The deal would cover approximately 10 gigawatt-hours of lithium-iron-phosphate battery cells per year, starting as early as 2026, generating an estimated annual revenue of 1 trillion to 1.5 trillion won for Samsung...