Why Tesla Stock Jumped on Monday

In addition, Tesla may be looking to acquire a stake in LG Energy Solution, a battery business that will soon divest from LG Chem, according to a separate report. The news of Tesla's five-year lithium supply agreement with Piedmont puts some action behind some of the bold vision the electric-car company laid out for its battery ambitions at its Battery Day event last week. "We are excited to be working with Tesla, which represents the start of the first US domestic lithium supply chain and a disruption to the current value chain," said Piedmont CEO Keith Phillips in a press release Monday morning.