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One of the most significant recent developments is Tesla's massive supply contract with Eve Energy, a Chinese battery manufacturer. Tesla's collaboration with Eve Energy is noteworthy due to their newly established battery factory in Malaysia. By utilizing this Malaysian facility, Tesla can bypass the looming battery tariffs that are expected to increase from their current 25% rate. This move could facilitate a more cost-effective production of lithium iron phosphate (LFP) batteries for the U.S. market.