Tesla Inc.’s (NASDAQ:TSLA) new $4.3 billion battery agreement with South Korea’s LG Energy Solution is a sweeping gesture toward reshoring battery making.
With the production of lithium iron phosphate (LFP) batteries in Michigan, Tesla is essentially dimming the lights on China’s battery behemoths (say hello to CATL and friends), according to a Reuters report. This switch has far-reaching implications for ETFs seeking to capitalize on the global trends in clean energy and manufacturing.
