Tesla may use Samsung SDI batteries in its standalone energy systems
A couple of days ago it was reported that Samsung SDI could start supplying battery cells for the Tesla Model 3. Tesla CEO Elon Musk refuted the reports, saying that the company was working exclusively with Panasonic on battery cells for the upcoming electric car. That single tweet from Musk wiped nearly $600 million from Samsung SDI’s market cap but it looks like there’s still a chance that both companies might work together at some point.
In a response to his clarification about the previous report, Musk was asked if Samsung SDI might supply batteries for Tesla Energy, to which he simply replied “yes.” For those who are unaware, Tesla Energy is a business unit that sells standalone energy systems for homes and businesses called Powerwall and Powerpack respectively. It has already delivered more than 2,500 Powerwalls and nearly 500 Powerpacks batteries in Europe, North America, Africa, and Asia. So even if Samsung might not supply Tesla with batteries for its cars because the latter has an arrangement with Panasonic, even Musk sees no reason why Samsung SDI battery cells shouldn’t make it into Tesla Energy products. This news gave some breathing room to Samsung SDI’s shares, they rose by over 4 percent after this report was published online.