South Korea's LG Energy Solution signs $4.3 billion battery supply deal with undisclosed party

Pau Barrena | Afp | Getty ImagesSouth Korea-based LG Energy Solution announced Wednesday that it had signed a $4.3 billion contract for supplying batteries to a major corporation, without naming the customer.The effective date of contract — receipt of orders — was Tuesday and it will conclude at the end of July, 2030

During this period, the counterparty will not be disclosed to maintain confidentiality, the company's filing with the Korea Exchange showed Wednesday

Reuters reported that Tesla was the counterparty.Earlier this week, Tesla CEO Elon Musk confirmed that the EV maker was behind a previously undisclosed $16.5 billion chip contract with South Korea's Samsung Electronics

LG Energy said in its filing that details of the agreement such as the deal amount were subject to change and the contract period could be ext by up to seven years

The value of the disclosed contract eclipses the company's 5.6 trillion Korean won ($4.05 billion) revenue for the second quarter of this year."Investors are advised to carefully consider the possibility of changes or termination of the contract when making investment decisions," the company cautioned

The filing did not clarify whether the lithium iron phosphate batteries would be used in vehicles or energy storage systems

Its major battery customers include American electric-vehicle makers Tesla and General Motors.The company has been expanding its manufacturing in the U.S., with its first North American ESS battery manufacturing hub, located in Michigan, coming online in the second quarter of this year

The company is also constructing a plant in Arizona that will duce lithium iron phosphate batteries

LG Energy Solution and Tesla did not immediately respond to CNBC's requests for .