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Tesla To Buy Batteries From LG Chem For China Factory : Report

Tesla Inc. (TSLA) agreed to buy batteries from South Korea's LG Chem for electric vehicles manufactured in China, Bloomberg reported citing people familiar with the matter.

The batteries made by LG Chem will be used initially in Model 3 cars manufactured in the plant near Shanghai, the report said.

The batteries will also be used in Model Ys manufactured there once the compact crossover car is released, the report said.

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