EV supply chain

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Dramatic illustration of L&F Co. executive slashing Tesla's $2.9B battery contract to $7,386 amid Cybertruck production challenges.
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Tesla supplier slashes battery contract by 99% amid Cybertruck woes

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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.

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