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LG Chem, Tesla tie-up could jolt Panasonic

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A Tesla Model X at an event in Palo Alto, California.   © Reuters

SEOUL -- South Korea's LG Chem is in the final stage of negotiations to supply lithium-ion batteries to U.S. electric vehicle maker Tesla Motors, which has until now sourced the key component almost exclusively from Panasonic.

     This could deal a major blow to the Japanese electronics giant, which positions the automotive business as a growth pillar, because now it will be exposed to competition in serving a key customer.

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