Tesla Reportedly Seeking Stake in Battery Giant LG

Tesla Reportedly Seeking Stake in Battery Giant LG

Tesla (NASDAQ: TSLA) is seeking to buy a stake in LG Chem's (OTC: LGCLF) battery business, according to a new report, a first for the upstart electric automaker. The Korea Times reports that Tesla is "exploring" the possibility of taking a stake of up to 10% in LG Energy Solutions, the tentative name of the company that will be created by the upcoming spinoff of LG Chem's battery division. LG Chem expects to complete the spinoff in December.