Tesla's Cybertruck sales fell 38% in the first nine months of 2025 amid ongoing demand challenges, exacerbating the prior reduction of a $2.9 billion cathode supply deal with L&F to just $7,000. The latest figures underscore production hurdles for the 4680 battery cells and the recent departure of Cybertruck program head Siddhant Awasthi.
L&F announced on January 2, 2026, confirming the prior reduction—detailed in its December 2025 filing—of its high-nickel cathode contract with Tesla from $2.9 billion to around $7,000, due to changes in delivery quantities for 4680 cells used primarily in the Cybertruck.
As previously reported, the 4680 cells have faced scaling issues, limiting their use beyond the Cybertruck, while other Tesla models rely on 2170 or LFP cells. Cybertruck sales, which underperformed in 2024 despite ambitions for 250,000 units annually, declined further in 2025: only 16,907 units in the first nine months, down 38% from 27,974 in the same period of 2024. Q4 2025 data is pending.
Compounding challenges, Siddhant Awasthi, head of the Cybertruck program, has left the company. This signals persistent issues in Tesla's battery strategy and pickup rollout, with no near-term expansion for 4680 cells. L&F maintains its materials perform well for other clients.
