# Tesla (TSLA)
> 전기차·에너지 기업이자 휴머노이드 Optimus로 피지컬 AI의 수요 정점을 노리는 노드로, 감속기·모터·AI칩·배터리 등 방대한 부품 체인을 끌어당기는 수요 허브다. 2025년 Q3 실적에서 Optimus 연 100만대 생산과 대량생산 시 단가 $2만을 제시하고 2026년 양산형 Gen 3를 예고했는데, 이 목표가 하모닉드라이브·나브테스코 감속기와 니덱 모터 등 상류 수요를 선행 자극한다. 다만 현 매출 본체인 EV는 판매 둔화 국면이라, FSD·로보택시·Optimus의 실현 속도가 EV 성숙을 상쇄할 수 있느냐가 핵심 논점이다.
Canonical: https://valuechain.wiki/tesla · Updated: 2026-07-12T03:46:42.897839+00:00 · Source: ValueChain.wiki (refined facts, cited)

**인용용 요약**: 밸류체인 그래프 기준 Tesla의 직접 연결 기업은 14곳(관계 기준 공급 14·매출 0)이고, 사슬을 2차까지 넓히면 65곳에 닿는다. 링크의 근거 출처는 17건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).

## Financials & segments
- 총매출: Optimus 연 100만대 목표(단가 $20k)
- 고객 집중도: 피지컬 AI 수요 정점. 감속기·모터·AI칩 조달.
- 사업부문: 전기차, 에너지·저장, Optimus 휴머노이드

## Annual stock return (as of 2026-07-10)
- 2021: +49.8%
- 2022: -65%
- 2023: +101.7%
- 2024: +62.5%
- 2025: +11.4%
- 2026 YTD: -9.3%

## Value-chain annual returns (top→bottom: demand → node → supply; YTD as of 2026-07-10)
| Company | Chain | 2021 | 2022 | 2023 | 2024 | 2025 | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Tesla | node | +49.8% | -65% | +101.7% | +62.5% | +11.4% | -9.3% |
| Harmonic Drive | benef1 | -42.7% | -2.5% | -16.1% | +24.9% | -23.8% | +132.3% |
| 파나소닉 에너지 | benef1 | -5.7% | -1.6% | +20.1% | +16.6% | +36.2% | +113.2% |
| Nabtesco | benef1 | -22.8% | +9% | -22.3% | +0.4% | +54.1% | +30.9% |
| Nidec | benef1 | -26.8% | -28.4% | -21.9% | -1.7% | -17.4% | +20.6% |
| FANUC | benef1 | -16.5% | +4.4% | -8.1% | +15.6% | +37.7% | +15.3% |
| NVIDIA | benef1 | +125.5% | -50.3% | +239% | +171.2% | +38.9% | +13.3% |
| 삼성SDI | benef1 | -19% | +15.8% | -45.7% | -40.2% | +75.7% | +11.3% |
| CATL | benef1 | +67.4% | -21.4% | -40.6% | +74.5% | +39.4% | +1.2% |
| Ganfeng Lithium | benef1 | +12% | -17.4% | -56.1% | +0.1% | +108.3% | -21.8% |
| 키옥시아 | benef2 | · | · | · | · | +1082.1% | +260.5% |
| Micron Technology | benef2 | +24.2% | -45.9% | +71.9% | -1% | +240.2% | +243.3% |
| Murata | benef2 | -14% | -11.7% | +24.7% | -16.5% | +29.9% | +217.4% |
| 난야PCB | benef2 | +110.6% | -46.7% | -0.5% | -38.3% | +188.2% | +213.4% |
| ASE테크놀로지 | benef2 | +38.3% | -12.8% | +60.9% | +10.1% | +65.6% | +167.6% |
| Nebius | benef2 | · | · | · | · | +202.2% | +162.4% |
| Astera Labs | benef2 | · | · | · | · | +25.6% | +148.2% |
| Ibiden | benef2 | +30.4% | -19.6% | +51.6% | -38.6% | +261% | +147.1% |
| SK하이닉스 | benef2 | -0.4% | -25.6% | +53.9% | +48.6% | +361.1% | +140.3% |
| 유니마이크론 | benef2 | +133.5% | -30.2% | +35.2% | -19.7% | +175.7% | +131.6% |
| Corning | benef2 | +5.9% | -11.6% | -1.2% | +60.6% | +87.8% | +118.8% |
| Lumentum | benef2 | +11.6% | -50.7% | +0.5% | +60.1% | +339.1% | +117.6% |
| LS일렉트릭 | benef2 | -19.2% | +11.4% | +37.4% | +234.2% | +145% | +79.6% |
| 삼성전자 | benef2 | -9% | -14.2% | +20.9% | -26.4% | +212.9% | +77.9% |
| onsemi | benef2 | +107.5% | -8.2% | +33.9% | -24.5% | -14.1% | +77.2% |
| Coherent | benef2 | -10% | -48.6% | +24% | +117.6% | +94.8% | +75.8% |
| Eoptolink | benef2 | -10.1% | -27.7% | +136.6% | +197% | +368.8% | +74.9% |
| InnoLight | benef2 | -30.7% | -18.3% | +253.7% | +12% | +468.1% | +68.8% |
| Keysight | benef2 | +56.3% | -17.2% | -7% | +1% | +26.5% | +58.5% |
| Delta Electronics | benef2 | -3.4% | +10.4% | -0.3% | +59.2% | +183.8% | +54.9% |
| Monolithic Power | benef2 | +35.5% | -27.8% | +79.8% | -5.6% | +54.5% | +49.8% |
| Analog Devices | benef2 | +21% | -4.9% | +23.4% | +8.8% | +29.8% | +46.7% |
| TSMC | benef2 | +12.1% | -36.7% | +42.3% | +92.6% | +55.9% | +43.6% |
| ABB | benef2 | +23.9% | +7.3% | +18.9% | +39% | +36.1% | +27.2% |
| Asahi Kasei | benef2 | -1.1% | -9.3% | +18.7% | -2.9% | +47.1% | +24.6% |
| 페가트론 | benef2 | -5.9% | +0.6% | +35.3% | +21.2% | -23.8% | +24% |
| Luxshare | benef2 | -11.9% | -30.2% | -21.2% | +58.8% | +29.3% | +20.6% |
| Digital Realty | benef2 | +30.7% | -41% | +39.9% | +35.9% | -10.1% | +18.2% |
| Amphenol | benef2 | +34.9% | -12% | +31.5% | +41.3% | +96.1% | +18.1% |
| 위스트론 | benef2 | +7.9% | +9.7% | +272.7% | -1.6% | +22.7% | +14.8% |
| Yunnan Energy (Enjie) | benef2 | +92.8% | -38.6% | -72.6% | -29.2% | +76.4% | +7.5% |
| KYEC | benef2 | +26.7% | -7.7% | +132.4% | +38.6% | +171% | +4.2% |
| 유미코아 | benef2 | -27.5% | +5.9% | -37.1% | -51.4% | +111.6% | +2.4% |
| Tinci Materials | benef2 | +68.3% | +5.6% | -61.4% | -0.7% | +124.2% | -1% |
| BlackRock | benef2 | +29.4% | -20.4% | +17.9% | +29.3% | +6.6% | -2.1% |
| 롯데에너지머티리얼즈 | benef2 | +31.5% | -32.9% | -49.3% | -30% | +75.8% | -8.4% |
| TE Connectivity | benef2 | +35.1% | -27.7% | +24.6% | +3.5% | +61.1% | -11.3% |
| 룽바이커지(容百科技) | benef2 | +96.6% | -39.1% | -63.6% | +12.3% | +47.7% | -12.9% |
| Recursion Pharmaceuticals | benef2 | · | -55% | +27.9% | -31.4% | -39.5% | -13% |
| LG화학 | benef2 | -29% | +9.7% | -36.6% | -45.3% | +31.2% | -14.4% |
| SKC | benef2 | +18.1% | -31.9% | -19.7% | +104.3% | -25.4% | -19.2% |
| 엘앤에프 | benef2 | +139.2% | +22.4% | -30.3% | -38.6% | +43.4% | -20.4% |
| 스미토모금속광산 | benef2 | +20.5% | +5.4% | -19.4% | -10.2% | +168.7% | -20.9% |
| 코스모신소재 | benef2 | +121.4% | +48.7% | +128.9% | -60.4% | -3.4% | -22.5% |
| 포스코퓨처엠 | benef2 | -17.7% | +97.6% | +16.3% | -43.6% | +56.5% | -32% |
| 나노신소재 | benef2 | +56.8% | +66.4% | +13.9% | -30.9% | +5.5% | -32.8% |
| BYD일렉트로닉스 | benef2 | -56.1% | +16% | -0.4% | +60.6% | -19.4% | -34.4% |
| 천보 | benef2 | +40.4% | -7.3% | -65% | -55.6% | +59.1% | -37.6% |
| 피엔티 | benef2 | +62.2% | +11.6% | -17.8% | +12.2% | +31.1% | -39.8% |
| 에코프로비엠 | benef2 | +79.2% | +23.9% | +113.5% | -38.6% | +77.1% | -47.6% |
| 엔켐 | benef2 | · | -37.4% | +173.9% | -20.5% | -26.1% | -76.7% |
| 삼성전기 | benef3 | -11.8% | -18.5% | -1.4% | -2.5% | +110% | +467.7% |
| 주성엔지니어링 | benef3 | +127.9% | -42.6% | +173.3% | -3.1% | +30.7% | +364.1% |
| 섬코 | benef3 | -4.3% | -3.9% | +21.3% | -48.1% | +41.7% | +225.8% |
| 피에스케이 | benef3 | +22.7% | -19.6% | +14.2% | -2.6% | +228.2% | +208% |
| LG이노텍 | benef3 | +78.2% | -22% | -28.8% | -22.1% | +66.8% | +204.6% |
| Arm Holdings | benef3 | · | · | · | +64.2% | -11.4% | +195.8% |
| GlobalWafers | benef3 | +26.9% | -29.9% | +14.3% | -39% | +48.9% | +171.6% |
| ACM Research | benef3 | +4.9% | -72.9% | +153.4% | -22.7% | +161.3% | +161.1% |
| AMD | benef3 | +56.9% | -55% | +127.6% | -18.1% | +77.3% | +160.5% |
| Kulicke & Soffa | benef3 | +92.4% | -25.8% | +25.5% | -13.2% | -0.3% | +150.1% |
| 코후 | benef3 | -0.2% | -15.9% | +10.4% | -24.6% | -12.8% | +141.4% |
| 어플라이드 머티어리얼즈 | benef3 | +83.6% | -37.5% | +68% | +1.1% | +59.6% | +135% |
| 미디어텍 | benef3 | +27.8% | -26.6% | +52.9% | +58.3% | +24.9% | +124.3% |
| Arteris | benef3 | · | -79.6% | +37% | +73% | +52.1% | +124.3% |
| FormFactor | benef3 | +6.3% | -51.4% | +87.6% | +5.5% | +26.8% | +110.7% |
| 케이씨텍 | benef3 | -24.2% | -6.1% | +57.9% | +5.9% | +56.7% | +108.1% |
| 램리서치 | benef3 | +53.7% | -40.7% | +88.6% | -6.8% | +139.2% | +105% |
| JCET | benef3 | -34% | +0.2% | -15.2% | +73.3% | +28% | +104.6% |
| Onto Innovation | benef3 | +112.9% | -32.7% | +124.6% | +9% | -5.3% | +103.6% |
| 심텍 | benef3 | +119.6% | -34.6% | +12.4% | -63.3% | +392.9% | +94.9% |
| 대덕전자 | benef3 | +64.2% | -0.3% | +13.3% | -22.7% | +250.2% | +92.1% |
| KLA | benef3 | +68% | -11.2% | +56% | +9.4% | +94.5% | +91% |
| Tower Semiconductor | benef3 | +53.7% | +8.9% | -29.4% | +68.8% | +128% | +89.7% |
| SCREEN Holdings | benef3 | +40.7% | -13.2% | +220.1% | -24.1% | +84.9% | +86.3% |
| Teradyne | benef3 | +36.8% | -46.3% | +24.8% | +16.5% | +54.4% | +85.9% |
| ASMPT | benef3 | -29% | -12.4% | +21.8% | -4.8% | +47.6% | +82% |
| Resonac | benef3 | -2.6% | -4% | +37.5% | +30.3% | +137.9% | +80.4% |
| MACOM | benef3 | +42.3% | -19.6% | +47.6% | +39.8% | +31.8% | +80.1% |
| 도쿄일렉트론 | benef3 | +40.4% | -14.5% | +89.8% | -4.4% | +61.6% | +78.2% |
| 퀴니티 일렉트로닉스 | benef3 | · | · | · | · | · | +76.3% |
| Entegris | benef3 | +44.6% | -52.5% | +83.5% | -17.1% | -14.6% | +72.8% |
| Kokusai Electric | benef3 | · | · | · | -35.4% | +165.3% | +70% |
| ASML | benef3 | +64.1% | -30.5% | +39.9% | -7.7% | +55.8% | +68.6% |
| Global Unichip | benef3 | +21.4% | +67.6% | +99.4% | -13.7% | +101.4% | +66.4% |
| Ajinomoto | benef3 | +31% | +36% | +44.5% | +4% | +14.1% | +63.7% |
| 후성 | benef3 | +59.9% | -33.5% | -34.5% | -39.1% | +67.4% | +62.2% |
| BESI | benef3 | +33.7% | -6.1% | +121.8% | -9.3% | +35% | +56.2% |
| Fujimi | benef3 | +64.7% | -1.6% | +40.4% | -24.2% | +28.4% | +54.6% |
| 유진테크 | benef3 | +28.1% | -45.1% | +64.1% | -12.6% | +202.5% | +49.5% |
| Montage Technology | benef3 | -18.2% | -21.8% | -18% | +51.4% | +169% | +47.4% |
| 기가바이트 | benef3 | +82.3% | -3.4% | +173.2% | -15.9% | -4.7% | +44.4% |
| 신에쓰화학 | benef3 | +6.3% | +3.1% | +57.8% | -15.6% | +7.6% | +44% |
| 삼성E&A | benef3 | +74.5% | +20% | -13.7% | -15.9% | +76.7% | +43.2% |
| Tokyo Ohka Kogyo | benef3 | -2.7% | -3% | +63.8% | +4.3% | +111.5% | +42.9% |
| Camtek | benef3 | +110.1% | -52.3% | +215.9% | +18.3% | +31.7% | +35.2% |
| Ebara | benef3 | +58.1% | +2.3% | +76.1% | +41% | +84% | +32.3% |
| ASM International | benef3 | +44.2% | +2.9% | +68.7% | +10.3% | +25.9% | +28.8% |
| 파워텍 (PTI) | benef3 | +4.8% | -7.5% | +86% | -16% | +128.6% | +26% |
| Linde | benef3 | +33.4% | -4.4% | +27.7% | +3.2% | +3.2% | +25.1% |
| CoreWeave | benef3 | · | · | · | · | · | +24.1% |
| 에어프로덕츠 | benef3 | +13.8% | +3.9% | -9% | +8.1% | -12.7% | +23.7% |
| Cadence Design Systems | benef3 | +36.6% | -13.8% | +69.6% | +10.3% | +4% | +22.9% |
| Lasertec | benef3 | +78.9% | +2.4% | +57% | -60.6% | +138.9% | +22.4% |
| 미쓰비시전기 | benef3 | -8.1% | +2.5% | +58.7% | +19.1% | +91% | +21.3% |
| Advantest | benef3 | +17% | -2.3% | +155.7% | +49.5% | +196% | +17.1% |
| 스미토모화학 | benef3 | +19.6% | -9.1% | -27.7% | -2.2% | +43.9% | +16% |
| Broadcom | benef3 | +56.5% | -13.3% | +104.2% | +110.5% | +50.6% | +16% |
| 네패스 | benef3 | -29.5% | -44% | +6.7% | -62.7% | +179.2% | +15.1% |
| 알파벳 (구글) | benef3 | +65.3% | -39.1% | +58.3% | +36% | +66% | +14.3% |
| Merck KGaA | benef3 | +42.2% | -0.4% | -19.1% | -2.5% | -12.7% | +13.5% |
| Air Liquide | benef3 | +14.1% | +7.9% | +20.9% | +8.5% | -4.8% | +12.5% |
| 디스코 | benef3 | -6.6% | +27.7% | +218.5% | +11.6% | +49.6% | +10.2% |
| 원익QnC | benef3 | +26.2% | +2% | +11.9% | -33.7% | +53.4% | +9.3% |
| 원익IPS | benef3 | -19.7% | -19.8% | -0.2% | -25.5% | +408.8% | +9.3% |
| SQM | benef3 | +6.8% | +71.8% | -18.3% | -39.4% | +89.2% | +7.6% |
| Siemens Energy | benef3 | -35.4% | -2.7% | -27% | +314.2% | +149.9% | +5.7% |
| 한미반도체 | benef3 | +98.5% | -21.7% | +313.1% | +93.7% | +87.9% | +5.5% |
| 하나마이크론 | benef3 | +109% | -41% | +143.5% | -52.4% | +269.3% | +5.3% |
| Fabrinet | benef3 | +52.7% | +8.2% | +48.4% | +15.5% | +107.1% | +3.5% |
| 소프트뱅크그룹 | benef3 | +10.2% | +9.9% | +39.2% | +6.5% | +8.5% | +3.2% |
| 코보 | benef3 | -5.9% | -42% | +24.2% | -37.9% | +20.8% | +1.5% |
| 이오테크닉스 | benef3 | +7.6% | -28.2% | +130.5% | -16.2% | +163.2% | +0.7% |
| 아이에스시 | benef3 | +43.2% | +14.2% | +116.5% | -11.9% | +126.8% | +0.3% |
| HD Hyundai Electric | benef3 | +4.2% | +132.5% | +159.4% | +300.5% | +120.2% | -3.7% |
| HPSP | benef3 | · | · | +216.5% | -30.4% | +54.7% | -4.5% |
| Synopsys | benef3 | +42.1% | -13.4% | +61.3% | -5.7% | -3.2% | -5.2% |
| 캐논 | benef3 | +22.5% | +11.1% | +46.4% | +27% | -3.2% | -5.6% |
| LG디스플레이 | benef3 | -6.8% | -30.9% | -8.5% | -20.6% | +26.2% | -5.7% |
| Photronics | benef3 | +68.9% | -10.7% | +86.4% | -24.9% | +35.8% | -6.6% |
| POSCO홀딩스 | benef3 | +13.9% | +19.9% | +43% | -37.3% | +38.3% | -8.8% |
| Albemarle | benef3 | +59.8% | -6.6% | -32.8% | -39.5% | +67.7% | -10.4% |
| 파크시스템스 | benef3 | +25.1% | +1.6% | +41.6% | +37.3% | +28.9% | -11.2% |
| BYD | benef3 | -6.5% | +10.5% | -28.5% | +58.9% | +8.7% | -12.7% |
| 하나머티리얼즈 | benef3 | +106% | -30.5% | +26.1% | -47.4% | +173.9% | -15.7% |
| 동진쎄미켐 | benef3 | +28.1% | -13.7% | +16.1% | -42.8% | +160.1% | -15.8% |
| LG에너지솔루션 | benef3 | · | · | -26.9% | -7.6% | +13.1% | -18.1% |
| 마이크로소프트 | benef3 | +52.5% | -28% | +58.2% | +12.9% | +15.6% | -20% |
| 유니테스트 | benef3 | +23.4% | -57.8% | +11.3% | -1.6% | +6.8% | -24.8% |
| 롯데케미칼 | benef3 | -22.5% | -3.6% | -24.4% | -56.1% | +50.1% | -25.4% |
| Oracle | benef3 | +36.9% | -4.6% | +30.9% | +60% | +18.1% | -27.4% |
| 이엔에프테크놀로지 | benef3 | -32.9% | -23.6% | +1.3% | -16.1% | +204.6% | -28.4% |
| 리노공업 | benef3 | +21% | -5.3% | +18.3% | +9.5% | +150.1% | -30.3% |
| SFA반도체 | benef3 | -5.8% | -34.1% | +48.7% | -48.7% | +139.8% | -31.8% |
| 솔브레인 | benef3 | -8.2% | -3.9% | +16.6% | -37.6% | +192.8% | -35.9% |
| 에코프로머티리얼즈 | benef3 | · | · | · | -52.5% | -4.9% | -43.6% |
| 에코프로 | benef3 | -5.1% | +94.5% | +309.5% | -39.2% | +172.1% | -47.1% |
| 에스앤에스텍 | benef3 | -17.3% | -5% | +45.8% | -31.2% | +210.8% | -47.5% |

전기차·에너지 기업이면서 휴머노이드 Optimus로 피지컬 AI의 수요 정점을 노리는 노드로, 감속기·모터·AI칩·배터리 상류를 광범위하게 끌어당기는 수요 허브다. Optimus 연 100만대·단가 $2만 목표가 하모닉드라이브·나브테스코 감속기와 니덱 모터 수요를 선행 자극하고, FSD·AI6(삼성 파운드리 165억 달러) 칩이 실세계 AI 축을 이룬다. 다만 현 매출 본체인 EV는 판매 둔화 국면이라, 성장 논점은 Optimus·로보택시의 실현 속도가 EV 성숙을 상쇄하느냐에 달렸고 이는 최대 리스크이기도 하다. 그래프상 이 노드는 배터리 5社(CATL·LG엔솔·파나소닉·삼성SDI·BYD)와 감속기·모터 공급사로 파급이 가장 넓은 하류 수요 정점이다. (analysis as of 2026-07-09)

## Money in · revenue from (2)
### 자동차·에너지 (소비자·기업) (high)
- note: 전기차·에너지 저장 판매 — 현 매출 본체이나 EV는 판매 둔화 국면.
- [confirms] Tesla (EN, filing, published 2025-10-22) https://ir.tesla.com/: "EV·에너지가 현 매출 주축."

### Optimus·로보택시·FSD (신규) (mid)
- note: Optimus 휴머노이드·로보택시·FSD — 연 100만대·단가 $20k 목표의 신규 수요 축.
- [confirms] eWeek (EN, news, published 2026-01-01) https://www.eweek.com/robotics/tesla-optimus-robot-launch-timeline/: "Optimus 연 100만대·단가 $20k 목표."

## Money out · pays to (15)
### 파나소닉 에너지 (high)  → /panasonic-energy.md
- metric: capacity 41 GWh · 네바다 · 네바다 2170 셀 공급
- note: 네바다·캔자스에서 2170 원통형 셀을 구매하는 테슬라의 오랜 핵심 배터리 공급사.
- [confirms] SNE리서치 (EN, research, published 2026-01-06) https://www.sneresearch.com/en/insight/release_view/567/page/0: "파나소닉은 주로 테슬라에 공급, 사용량 7위 38.5GWh."
- [confirms] 파나소닉 노스아메리카 (EN, ir, published 2025-07-14) https://na.panasonic.com/news/panasonic-energy-begins-mass-production-at-new-automotive-lithium-ion-battery-factory-in-kansas-aiming-for-annual-capacity-of-32-gwh-to-accelerate-us-local-production: "the Nevada Factory ... approximately 41 GWh"
- [confirms] 일렉트렉 (EN, news, published 2024-01-15) https://electrek.co/2024/01/15/panasonic-to-soon-make-new-batteries-for-tesla-could-reduce-ev-prices-report/: "2170 cells used in Tesla Model 3 and Model Y at the plant in Nevada"

### BYD (high)  → /byd.md
- metric: capacity 8 GWh/yr · 2025~ · FinDreams ESS LFP 셀 공급
- note: BYD 자회사 FinDreams로부터 상하이 메가팩토리용 LFP ESS 셀(연 최대 8GWh)을 공급받음.
- [confirms] CnEVPost (EN, news, published 2024-06-05) https://cnevpost.com/2024/06/05/byd-findreams-to-supply-battery-cells-to-tesla-megafactory/: "up to 8 GWh from FinDreams"

### LG에너지솔루션 (high)  → /lg-energy-solution.md
- metric: 계약금액 $4.3B · 2027~2030 · LFP ESS 셀 공급(메가팩3)
- note: 메가팩3용 LFP 각형 ESS 셀(43억 달러, 2027~2030)과 2170 원통형 셀을 공급받음.
- [confirms] 일렉트렉 (EN, news, published 2026-03-17) https://electrek.co/2026/03/17/tesla-lg-energy-solution-4-3-billion-lfp-battery-deal-megapack-confirmed/: "LG produce LFP prismatic cells at its Lansing, Michigan factory starting in 2027"
- [confirms] SNE리서치 (EN, research, published 2026-01-06) https://www.sneresearch.com/en/insight/release_view/567/page/0: "테슬라 판매 둔화로 LG엔솔의 테슬라향 배터리 사용량 8.2% 감소."

### Harmonic Drive (high)  → /harmonic-drive.md
- note: Optimus 관절에 Harmonic Drive 하모닉 감속기 조달.
- [confirms] eWeek (EN, news, published 2026-01-01) https://www.eweek.com/robotics/tesla-optimus-robot-launch-timeline/: "Optimus 관절에 Harmonic Drive 하모닉 감속기 조달."
- [confirms] Humanoid Guide (EN, research, published 2026-01-01) https://humanoid.guide/product/optimus/: "Optimus 관절에 Harmonic Drive 하모닉 감속기 조달."
- [confirms] Tesla (EN, filing, published 2025-10-22) https://ir.tesla.com/: "Tesla 10-K/IR: Optimus 부품 조달·생산계획."
- [confirms] Morgan Stanley (EN, research, published 2025-01-01) https://advisor.morganstanley.com/john.howard/documents/field/j/jo/john-howard/The_Humanoid_100_-_Mapping_the_Humanoid_Robot_Value_Chain.pdf: "휴머노이드 정밀 액추에이터·감속기 공급 티어에 Harmonic Drive 명시."

### CATL (high)  → /catl.md
- note: EV·로봇 배터리를 CATL에서 조달.
- [confirms] CnEVPost (EN, news, published 2026-02-04) https://cnevpost.com/2026/02/04/global-ev-battery-market-share-2025/: "EV·로봇 배터리를 CATL에서 조달."
- [confirms] SNE리서치 (EN, research, published 2026-01-06) https://www.sneresearch.com/en/insight/release_view/567/page/0: "테슬라 등 글로벌 OEM이 CATL 배터리 채택."

### 삼성SDI (mid)  → /samsung-sdi.md
- metric: deal value $2.1B · 2026~ · ESS LFP 셀 공급(매체 보도)
- note: 메가팩·파워월용 LFP ESS 셀을 약 21억 달러 규모로 공급받는 것으로 보도(2026년경 코코모 생산).
- [confirms] KED글로벌 (EN, news, published 2025-11-03) https://www.kedglobal.com/batteries/newsView/ked202511030005: "ESS estimated at over 3 trillion won ($2.1 billion)"

### Albemarle (mid)  → /albemarle.md
- metric: 금액 1.2 USD10억 · 다년 공급계약 · 테슬라 리튬 공급계약(보도)
- note: 테슬라가 배터리용 리튬을 앨버말에서 조달한다(약 12억 달러 규모 공급계약 보도).
- [confirms] 마인리스팅스 (EN, news, published 2026-04-12) https://minelistings.com/news/teslas-1-2-billion-lithium-supply-deal-with-albemarle-sparks-market-excitement/: "테슬라가 앨버말과 약 12억 달러 규모 리튬 공급계약을 확보했다."

### Nidec (mid)  → /nidec.md
- note: Optimus 관절에 Nidec 모터·액추에이터 조달.
- [confirms] eWeek (EN, news, published 2026-01-01) https://www.eweek.com/robotics/tesla-optimus-robot-launch-timeline/: "Optimus 관절에 Nidec 모터·액추에이터 조달."
- [confirms] Humanoid Guide (EN, research, published 2026-01-01) https://humanoid.guide/product/optimus/: "Optimus 관절에 Nidec 모터·액추에이터 조달."
- [confirms] Morgan Stanley (EN, research, published 2025-01-01) https://advisor.morganstanley.com/john.howard/documents/field/j/jo/john-howard/The_Humanoid_100_-_Mapping_the_Humanoid_Robot_Value_Chain.pdf: "모터·액추에이터 공급사로 Nidec 명시."

### Nabtesco (mid)  → /nabtesco.md
- note: Optimus 관절에 Nabtesco RV 감속기 조달.
- [confirms] eWeek (EN, news, published 2026-01-01) https://www.eweek.com/robotics/tesla-optimus-robot-launch-timeline/: "Optimus 관절에 Nabtesco RV 감속기 조달."
- [confirms] Humanoid Guide (EN, research, published 2026-01-01) https://humanoid.guide/product/optimus/: "Optimus 관절에 Nabtesco RV 감속기 조달."
- [confirms] Morgan Stanley (EN, research, published 2025-01-01) https://advisor.morganstanley.com/john.howard/documents/field/j/jo/john-howard/The_Humanoid_100_-_Mapping_the_Humanoid_Robot_Value_Chain.pdf: "휴머노이드 감속기 공급사로 Nabtesco 포함."

### NVIDIA (mid)  → /nvidia.md
- note: AI 학습·일부 추론에 엔비디아 GPU 활용(Dojo 외).
- [confirms] Humanoid Guide (EN, research, published 2026-01-01) https://humanoid.guide/product/optimus/: "AI 학습·일부 추론에 엔비디아 GPU 활용(Dojo 외)."

### 삼성전자 (mid)  → /samsung-electronics.md
- note: FSD·인포테인먼트 칩·디스플레이를 삼성에서 조달.
- [confirms] Tesla (EN, filing, published 2025-10-22) https://ir.tesla.com/: "테슬라 FSD 칩 삼성 파운드리."
- [confirms] Isaiah Research (EN, research, published 2025-08-07) https://www.isaiahresearch.com/Insight/Detail/103: "테슬라, 삼성 파운드리와 165억 달러 AI6 계약(텍사스 테일러 2nm 생산)."

### Ganfeng Lithium (mid)  → /ganfeng.md
- note: 테슬라는 간펑리튬에서 전지급 수산화리튬을 조달해 왔다(2018~2020에 이어 2022~2024 3년 계약).
- [confirms] 마이닝닷컴 (EN, news, published 2021-11-01) https://www.mining.com/ganfeng-lithium-lands-fresh-three-year-supply-deal-with-tesla/: "테슬라가 간펑리튬에서 2022~2024년 전지급 수산화리튬을 공급받는 계약을 맺었다."

### Analog Devices (mid)  → /analog-devices.md
- note: 테슬라 FSD 컴퓨터 HW4.0에 ADI 오디오 프로세서 2종 탑재(분해 확인). ADI의 주력 자동차 BMS는 GM(비노드)이며 테슬라는 FSD 오디오 콘텐츠.
- [confirms] TechInsights (EN, research, published 2023-07-01) https://www.techinsights.com/products/ddt-2307-807: "테슬라 FSD HW4.0 분해에서 ADI 오디오 프로세서 2종 확인."

### 화낙 (mid)  → /fanuc.md
- note: 화낙 관계의 미러: 프리몬트 차체·조립 라인에 산업로봇 공급: 모델3 증설 전 약 600대 가동(화낙 아메리카 확인), 쿠카와 병행해 약 1천대 자동화 라인에 도입(금액 비공개).
- [confirms] 지디넷코리아 (KO, news, published 2021-04-30) https://zdnet.co.kr/view/?no=20210430151803: "테슬라는 프리몬트 공장에 1천 대가량의 자동화 로봇 라인을 구축했으며 쿠카와 화낙 제품이 도입된 바 있다."
- [confirms] 일렉트렉 (EN, news, published 2016-09-01) https://electrek.co/2016/09/01/tesla-model-3-robot-supplier-bring-up-production-line-time/: "FANUC, Tesla's main robot supplier for the Model 3 line, will add to the ~600 robots already deployed at Fremont."

### 배터리·소재 (비공개) (low)
- note: 배터리·셀·소재.
- [confirms] Tesla (EN, filing, published 2025-10-22) https://ir.tesla.com/: "EV·로봇 배터리."

## 질문별 엔드포인트
- 누가 테슬라의 고객인가? 테슬라의 매출은 어디서 오는가? → https://valuechain.wiki/tesla/customers.md
- 테슬라의 주요 공급사는 어디인가? 테슬라의 비용은 누구에게 가는가? → https://valuechain.wiki/tesla/suppliers.md
- 테슬라 주가가 움직이면 누가 수혜를 보는가? 테슬라의 가치사슬 파급은 어디까지인가? → https://valuechain.wiki/tesla/ripple.md
- 증권가가 보는 테슬라: 목표주가와 투자의견은? → https://valuechain.wiki/tesla/consensus.md

## 이 노드를 다룬 분석 (2)
- [배터리를 되살린 건 EV가 아니라 ESS다: 그 뿌리는 다시 AI 데이터센터다](https://valuechain.wiki/analysis/ess-not-ev-battery-cycle.md) (2026-06-24)
- [여러 개의 시계: 하나의 평균이 지우는 정보](https://valuechain.wiki/analysis/many-clocks.md) (2026-06-23)

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_Generated for LLM/agent consumption. Each edge lists stance (confirms/mentions/contradicts), source publisher, language, date, and excerpt for verification._