LF Supply Deal with Tesla Contracts by 997 Percent
LF announced a drastic reduction in its supply deal with Tesla from $2.9 billion to $7.386 million for 2024-2025. This represents a 99.7 percent contraction.
Insights:
L&F , a South Korean battery material maker, has announced a dramatic reduction in its 2023 supply agreement with Tesla Inc. , a leading electric vehicle manufacturer. The value of the contract, which was originally projected to be $2.9 billion, has been slashed to just $7.386 million for the delivery period spanning from January 2024 through December 2025. This staggering 99.7 percent contraction signals a significant recalibration in the procurement strategies between the two companies.
