L&F cuts Tesla battery material deal value by 99% amid EV slowdown
The original deal, signed in 2023, called for L&F to provide high-nickel cathode materials to Tesla and its affiliates from January 2024 through December 2025
South Korean battery material supplier L&F Co. Ltd. announced a dramatic 99% reduction in the value of its 2023 supply agreement with Tesla Inc., dropping from a projected $2.9 billion to just $7,386, signaling deepening challenges in the global electric vehicle supply chain.
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