Tesla signs $16.5bn chip deal with Samsung
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Seoul (Reuters) -Shares in Samsung Electronics fell 1% on Tuesday after the South Korean technology company staged a powerful rally in the previous session on news of a $16.5 billion deal to supply chips to Tesla.
Electric vehicle costs in the US could drop by $6,000 or more. Ford, GM, and Tesla have all invested heavily in LFP battery production in the US, partnering with LG, Samsung, and in the case of Ford, using tech from Chinese battery giant CATL. Stellantis has also partnered with CATL to build an LFP factory in Spain.
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