The US government on Monday said EV maker Tesla and South Korea's LG ​Energy Solution signed a supply agreement to ‌build a $4.3-billion (over ₹39,000 crore) lithium iron phosphate (LFP) battery cell manufacturing facility in Michigan. The batteries will be used to power Tesla’s Megapack 3 energy storage systems, manufactured in Houston. The production is expected to start in 2027.