Tesla Chief Executive Officer (CEO) Elon Musk said he discussed the details of a recent semiconductor supply deal with Samsung Electronics Chairman, Lee Jae-yong. In a response to a user's comment on his X account on Tuesday (U.S. time) that Samsung Electronics "has no idea what they signed up for," Musk replied, "They do.”

Shares in Samsung Electronics eked out small gains on Tuesday, following a sharp rally the previous day after the South Korean technology company clinched a $16.5 billion deal to supply artificial intelligence chips to Tesla .

Electric vehicle costs in the US could drop by $6,000 or more. Ford, GM, and Tesla have all invested heavily in LFP battery production in the US, partnering with LG, Samsung, and in the case of Ford, using tech from Chinese battery giant CATL. Stellantis has also partnered with CATL to build an LFP factory in Spain.