Shares of LG Chem Ltd, which supplies batteries to Tesla Inc, climbed on Tuesday, after media said the U.S. electric vehicle maker was looking to acquire a stake in a battery unit the South Korean company wants to dispose of.
FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song
On Twitter, Musk said the company might sell 20 million cars before 2030, and projected total industry sales at more than 30 million EVs. Tesla delivered 367,500 vehicles last year. “I have never heard of Tesla investment in LG Chem,” a senior LG official told Reuters, on condition of anonymity as he was not authorised to speak to the media.
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