Overview
- L&F disclosed in a regulatory filing that a 2023 supply deal with Tesla was reduced to 9.73 million won from roughly 3.8–3.93 trillion won.
- The agreement covered high‑nickel cathode deliveries scheduled from January 2024 through December 2025.
- Reporting by Bloomberg and Reuters links the materials to Tesla’s in‑house 4680 cells used primarily in the Cybertruck.
- L&F said its flagship NCMA95 shipments to major Korean cell makers remain unaffected; its shares fell after the disclosure.
- Analysts pointed to weakening EV demand and changes to U.S. subsidy policy as sector‑wide pressures contributing to order reductions.