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Story summary
- L&F Co., a South Korean battery material supplier, cut its supply contract with Tesla from $2.9 billion to $7,386.
- The decline reflects delays in development and weaker demand for Tesla's 4680 cells used in the Cybertruck.
- The contract was to run January 2024 to December 2025.
- Analysts cite broader economic factors, including the removal of U.S. subsidies, as contributing to battery market weakness and Tesla's 4680 production challenges.
