Tesla Inks Deal With LG Chem

The Wall Street Journal reported that Tesla Motors (NASDAQ:TSLA) has signed a contract with South Korea’s LG Chem (KRX:051910) for upgraded batteries for its discontinued Roadster. According to the Journal, Tesla confirmed the contract after a Japanese news agency reported the two companies were in talks.
As quoted in the publication:

Tesla Motors Inc. confirmed Wednesday it has a contract with South Korean battery maker LG Chem Ltd. for upgrades to the company’s first car, the Roadster, which has since been discontinued.
Earlier this year, Tesla began offering a $29,000 upgrade to original Roadster customers to replace the battery in the vehicle with a new pack and make other improvements. The new pack bumped up the range to around 400 miles, a 35% increase. Those upgrades are continuing today.

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