Tesla cancels multibillion dollar cathode material order from L&F
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Tesla has significantly reduced its supply contract with South Korean battery material manufacturer L&F for cathode materials, dropping from approximately $2.9 billion to around $7,000. This change is attributed to weak demand for the Cybertruck, which has seen disappointing sales figures. The 4680 battery cells, initially intended for broader use across Tesla models, are now primarily used in the Cybertruck, with production challenges hindering expansion plans. L&F maintains that its materials are not the issue, continuing to supply other manufacturers as usual.
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