South Korea’s Samsung SDI has reportedly entered into a major supply agreement with Tesla (NASDAQ:TSLA) to provide more than ₩3 trillion (approximately $2.11 billion) worth of Energy Storage System (ESS) batteries over the next three years, according to a report published Monday by the Korea Economic Daily.
The newspaper cited an unnamed industry source, noting that the contract represents one of Samsung SDI’s largest ESS battery deals to date.
While the report did not include details on the specific battery models or the delivery timeline, it highlights Samsung SDI’s expanding role as a key supplier in Tesla’s growing energy business.
Energy Storage Systems play a crucial role in storing electricity for later use, helping stabilize energy grids and manage fluctuations in power demand—particularly as renewable energy integration increases worldwide.