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Shares in the Samsung SDI surged to trade 6 percent higher in
early afternoon trade, beating the wider market's 1.1 percent
gain.
Tesla, which currently procures its batteries from Japan's
Panasonic Corp, is likely to add Samsung SDI as a supplier
should sales exceed expectations, the source said, although he
declined to specify what level of sales would clinch a deal for
the South Korean company.
Citing "tremendous demand," Tesla Chief Executive Elon Musk said
in April that the automaker planned to boost total vehicle
production to 500,000 in 2018 - two years earlier than its
original target. Suppliers have said the goal will be difficult
to achieve.
Tesla has taken 373,000 orders for its Model 3 - which has a
starting price of $35,000, about half its Model S - and has said
it would begin customer deliveries in late 2017.
"It remains to be seen whether the orders will translate into
actual sales," the source said. The source declined to be
identified as the discussions were confidential.
A Samsung SDI spokesman declined to comment.
Samsung SDI is an affiliate of Samsung Electronics Ltd.
(Reporting by Hyunjoo Jin; Editing by Edwina Gibbs)
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