Tesla and LG Energy to Build $4.3B Battery Plant in Michigan for Megapack Systems

Published: Mar 18, 2026 11:23

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March 17, Tesla (TSLA) and South Korean battery giant LG Energy (850101) formally confirmed that they would jointly build an LFP battery (884309) plant in Lansing, Michigan, with an investment of $4.3 billion, to support the rapid expansion of Tesla’s (TSLA) energy storage (885921) system business. The US Department of the Interior formally confirmed the deal in a statement. Under the agreement, LG Energy (850101) will produce prismatic LFP batteries (884309) at its plant in Lansing, Michigan, US, and supply them for Tesla’s (TSLA) Megapack 3 energy storage (885921) systems. The Lansing plant is expected to begin operations in 2027. The move is intended to establish a domestic US battery supply chain and address the surge in electricity (562350) demand driven by AI (885728) data centers.

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