L&F's battery supply agreement with Tesla has been significantly reduced in value.

The supply agreement between South Korean battery materials manufacturer L&F and Tesla has been reduced from $2.9 billion to $73.86 billion. L&F originally planned to supply high-nickel cathode materials for Tesla's 4680 batteries. However, due to slowing demand in the electric vehicle market and difficulties Tesla encountered in battery mass production, actual demand was far lower than expected.