Overview
- L&F disclosed in a regulatory filing that its February 2023 agreement with Tesla was reduced from about 3.8–3.93 trillion won to 9.73 million won.
- The deal covered high‑nickel cathode deliveries for January 2024 through December 2025, with the company citing a change in supply quantity and schedule adjustments.
- Reporting links the materials to Tesla’s in‑house 4680 cells used primarily in the Cybertruck, which analysts say have faced scaling hurdles and softer demand.
- L&F said shipments of its flagship NCMA95 cathodes to major Korean battery makers continue without change, while Tesla did not comment.
- Shares of L&F fell more than 6% after the disclosure as analysts highlighted broader EV market and policy pressures weighing on orders.