Tesla (TSLA.US) splurged $4.3 billion to purchase LGLFP batteries, exclusively for the American energy storage system.

According to the Zhitong Financial APP, sources familiar with the matter revealed that Tesla (TSLA.US) has signed a $4.3 billion agreement with LG New Energy to purchase lithium iron phosphate (LFP) batteries. This is the second deal reached by the electric car maker in South Korea this month.