L&F Co.
Tesla-L&F battery contract cut 99% to $6,800 amid Cybertruck struggles and 4680 setbacks
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Tesla has slashed its supply deal with South Korean firm L&F Co. by nearly 99%, from $2.9 billion to $6,800, for high-nickel cathode materials used in the struggling 4680 battery cells of the Cybertruck. The revision, filed December 29, 2025, reflects weak demand, production issues, and EV market shifts, impacting L&F's stock and highlighting broader challenges for Tesla's battery ambitions.
South Korean battery material supplier L&F Co. has reduced the value of its 2023 supply contract with Tesla from $2.9 billion to just $7,386, citing changes in supply quantity. The deal involved high-nickel cathode materials for Tesla's 4680 battery cells, primarily used in the Cybertruck. This move highlights ongoing demand challenges for the electric pickup truck.