LG Energy Solution (LGES) and SK On are laying off workers as it reduces electric vehicle (EV) investments in North America. The South Korean battery suppliers are slowing their expansion in North America due to sluggish demand in the electric vehicle market.
LG Energy Solution announced it would be laying off 170 workers at its Michigan plant this month. The South Korean battery supplier stated it would lay off almost 10% of the employees in its wholly owned site in Holland, Michigan. LGES explained that the layoffs are due to “automakers realigning the speed of the EV transition.”
The Biden Administration’s Inflation Reduction Act (IRA) has spurred investments in EV and battery manufacturing in North America. Some analysts believe the investments are moving faster than the transition to EVs.
“The market seems to be going through a correction,” said Lee Hang-koo, president of Jeonbuk Institute of Automotive Convergence Technology (JIAT). “There is growing concern about overcapacity, as too much investment has been made in the sector in a short period of time.”
LGES has joint ventures and partnerships with top automakers in the United States, including Tesla, Ford, and General Motors. Fellow South Korean battery maker SK On also has deals in the United States, specifically with Ford.
SK On and Ford signed a $11 billion deal in 2021. Recently, SK On announced plans to put workers on furlough while it reduces output in its Georgia plant. The Asian battery supplier laid off over 100 workers in Georgia in September. It also plans to delay the launch of its second plan in Kentucky, a joint venture with Ford. The Kentucky plant was expected to be operational by 2026.
Automakers have also started to be more cautious with their expansion plans. Ford recently scaled back its plans for its new Michigan EV battery plant, reducing the estimated jobs it would offer and decreasing its output capacity. Even Tesla hinted at delaying its plans for Giga Mexico at its last earnings call.
“And in Mexico, we’re laying the groundwork to begin construction and doing all the long lead items, but I think we want to just get a sense for the global economy is like before we go full tilt on the Mexico factory. I am worried about the high interest rate environment that we’re in,” said Elon Musk during the Q3 2023 earnings call.
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Tesla FSD’s newest model is coming, and it sounds like ‘the last big piece of the puzzle’
“There’s a model that’s an order of magnitude larger that will be deployed in January or February 2026.”
Tesla Full Self-Driving’s newest model is coming very soon, and from what it sounds like, it could be “the last big piece of the puzzle,” as CEO Elon Musk said in late November.
During the xAI Hackathon on Tuesday, Musk was available for a Q&A session, where he revealed some details about Robotaxi and Tesla’s plans for removing Robotaxi Safety Monitors, and some information on a future FSD model.
While he said Full Self-Driving’s unsupervised capability is “pretty much solved,” and confirmed it will remove Safety Monitors in the next three weeks, questions about the company’s ability to give this FSD version to current owners came to mind.
Musk said a new FSD model is coming in about a month or two that will be an order-of-magnitude larger and will include more reasoning and reinforcement learning.
He said:
“There’s a model that’s an order of magnitude larger that will be deployed in January or February 2026. We’re gonna add a lot of reasoning and RL (reinforcement learning). To get to serious scale, Tesla will probably need to build a giant chip fab. To have a few hundred gigawatts of AI chips per year, I don’t see that capability coming online fast enough, so we will probably have to build a fab.”
NEWS: Elon Musk says FSD Unsupervised is “pretty much solved at this point” and that @Tesla will be launching Robotaxis with no safety monitors in about 3 weeks in Austin, Texas. He also teased a new FSD model is coming in about 1-2 months.
“We’re just going through validation… https://t.co/Msne72cgMB pic.twitter.com/i3wfKX3Z0r
— Sawyer Merritt (@SawyerMerritt) December 10, 2025
It rings back to late November when Musk said that v14.3 “is where the last big piece of the puzzle finally lands.”
With the advancements made through Full Self-Driving v14 and v14.2, there seems to be a greater confidence in solving self-driving completely. Musk has also personally said that driver monitoring has been more relaxed, and looking at your phone won’t prompt as many alerts in the latest v14.2.1.
This is another indication that Tesla is getting closer to allowing people to take their eyes off the road completely.
Along with the Robotaxi program’s success, there is evidence that Tesla could be close to solving FSD. However, it is not perfect. We’ve had our own complaints with FSD, and although we feel it is the best ADAS on the market, it is not, in its current form, able to perform everything needed on roads.
But it is close.
That’s why there is some legitimate belief that Tesla could be releasing a version capable of no supervision in the coming months.
All we can say is, we’ll see.
Investor's Corner
SpaceX IPO is coming, CEO Elon Musk confirms
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon. Musk replied, basically confirming it.
Elon Musk confirmed through a post on X that a SpaceX initial public offering (IPO) is on the way after hinting at it several times earlier this year.
It also comes one day after Bloomberg reported that SpaceX was aiming for a valuation of $1.5 trillion, adding that it wanted to raise $30 billion.
Musk has been transparent for most of the year that he wanted to try to figure out a way to get Tesla shareholders to invest in SpaceX, giving them access to the stock.
He has also recognized the issues of having a public stock, like litigation exposure, quarterly reporting pressures, and other inconveniences.
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon.
Musk replied, basically confirming it:
As usual, Eric is accurate
— Elon Musk (@elonmusk) December 10, 2025
Berger believes the IPO would help support the need for $30 billion or more in capital needed to fund AI integration projects, such as space-based data centers and lunar satellite factories. Musk confirmed recently that SpaceX “will be doing” data centers in orbit.
AI appears to be a “key part” of SpaceX getting to Musk, Berger also wrote. When writing about whether or not Optimus is a viable project and product for the company, he says that none of that matters. Musk thinks it is, and that’s all that matters.
It seems like Musk has certainly mulled something this big for a very long time, and the idea of taking SpaceX public is not just likely; it is necessary for the company to get to Mars.
The details of when SpaceX will finally hit that public status are not known. Many of the reports that came out over the past few days indicate it would happen in 2026, so sooner rather than later.
But there are a lot of things on Musk’s plate early next year, especially with Cybercab production, the potential launch of Unsupervised Full Self-Driving, and the Roadster unveiling, all planned for Q1.
Tesla has added the 15th automaker to the growing list of companies whose EVs can utilize the Supercharger Network this year, as BMW is the latest company to gain access to the largest charging infrastructure in the world.
BMW became the 15th company in 2025 to gain Tesla Supercharger access, after the company confirmed to its EV owners that they could use any of the more than 25,000 Supercharging stalls in North America.
Welcome @BMW owners.
Download the Tesla app to charge → https://t.co/vnu0NHA7Ab
— Tesla Charging (@TeslaCharging) December 10, 2025
Newer BMW all-electric cars, like the i4, i5, i7, and iX, are able to utilize Tesla’s V3 and V4 Superchargers. These are the exact model years, via the BMW Blog:
- i4: 2022-2026 model years
- i5: 2024-2025 model years
- 2026 i5 (eDrive40 and xDrive40) after software update in Spring 2026
- i7: 2023-2026 model years
- iX: 2022-2025 model years
- 2026 iX (all versions) after software update in Spring 2026
With the expansion of the companies that gained access in 2025 to the Tesla Supercharger Network, a vast majority of non-Tesla EVs are able to use the charging stalls to gain range in their cars.
So far in 2025, Tesla has enabled Supercharger access to:
- Audi
- BMW
- Genesis
- Honda
- Hyundai
- Jaguar Land Rover
- Kia
- Lucid
- Mercedes-Benz
- Nissan
- Polestar
- Subaru
- Toyota
- Volkswagen
- Volvo
Drivers with BMW EVs who wish to charge at Tesla Superchargers must use an NACS-to-CCS1 adapter. In Q2 2026, BMW plans to release its official adapter, but there are third-party options available in the meantime.
They will also have to use the Tesla App to enable Supercharging access to determine rates and availability. It is a relatively seamless process.
Tesla FSD’s newest model is coming, and it sounds like ‘the last big piece of the puzzle’
SpaceX IPO is coming, CEO Elon Musk confirms
