SoFi CEO enters prepaid forward contract on 1.5 million shares
Investing.com - Tesla (NASDAQ:TSLA), the nearly $1 trillion market cap EV leader currently trading at $307.52, has signed a $4.3 billion deal with South Korea’s LG Energy Solution to procure lithium iron phosphate batteries for its energy storage systems, Cantor Fitzgerald reported Monday.
The agreement, announced on July 30, will source batteries from LG’s Michigan plant for a period running from August 2027 to July 2030, with options to extend the timeframe.
Cantor Fitzgerald analyst Andres Sheppard, who maintains an Overweight rating and $355.00 price target on Tesla stock, noted the deal aligns with Tesla’s efforts to reduce reliance on Chinese suppliers, potentially mitigating tariff impacts.
In a separate development announced on July 27, Tesla secured a $16.5 billion multiyear agreement with Samsung Electronics (KS:005930) to produce next-generation AI6 chips at Samsung’s new Texas plant.
These chips are expected to support Tesla’s full self-driving systems, robotaxis, and Optimus robots, according to Cantor Fitzgerald’s research note.
In other recent news, Tesla has approved a substantial stock award for CEO Elon Musk. The company’s Board of Directors has granted Musk 96 million shares of restricted stock under the 2019 Equity Incentive Plan, following a recommendation by a special committee. This award, known as the 2025 CEO Interim Award, is subject to a two-year vesting period, during which Musk must continue in his role as CEO or as an executive officer responsible for product development or operations. Additionally, Moody’s Ratings has affirmed Tesla’s Baa3 long-term issuer rating with a stable outlook, highlighting the company’s strengths in vehicle technology, software, and AI capabilities. These attributes may aid Tesla in expanding its vehicle lineup and transitioning to autonomous vehicles in the future. In another development, Samsung Electro-Mechanics is reportedly set to supply camera modules for Tesla’s Optimus robots, according to Electronic Times. However, Tesla faces legal challenges as a Miami federal jury ordered the company to pay $329 million in a lawsuit related to a crash involving its Autopilot technology. This verdict could influence Tesla’s safety reputation and lead to further legal actions.
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