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Stockreport

Global EV battery supplier slashes Tesla contract value by over 99%: '[This] program appears to have failed' [Yahoo! Finance]

Tesla, Inc. (TSLA)  More Company Research Source: This
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
the future of the automaker's in-house battery program and the Cybertruck program that uses it. According to Electrek, L&F Co. announced that its once-massive supply deal with Tesla dropped from $2.9 billion to just $7,386. The company cited a "change in supply quantity" in a regulatory filing but provided no further explanation for the dramatic reduction. L&F won the original contract in 2023 to provide high-nickel cathode materials directly to Tesla for its 4680 battery cells. As Electrek detailed, Tesla CEO Elon Musk had promoted these cells as critical technology that would halve battery costs and enable cheaper electric vehicles. Currently, the Cybertruck is the only Tesla-made vehicle in production using the 4680 cells, per the news outlet. Tesla has faced significant challenges with the Cybertruck over the past year. The company offered discounted financing last March to move inventory, then launched 0% APR incentives in June as unsold trucks accumulated. Giga Texas has [Read more]
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Stockreport

Global EV battery supplier slashes Tesla contract value by over 99%: '[This] program appears to have failed' [Yahoo! Finance]

Tesla, Inc.  (TSLA) 
More Company Research Source: This
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
the future of the automaker's in-house battery program and the Cybertruck program that uses it. According to Electrek, L&F Co. announced that its once-massive supply deal with Tesla dropped from $2.9 billion to just $7,386. The company cited a "change in supply quantity" in a regulatory filing but provided no further explanation for the dramatic reduction. L&F won the original contract in 2023 to provide high-nickel cathode materials directly to Tesla for its 4680 battery cells. As Electrek detailed, Tesla CEO Elon Musk had promoted these cells as critical technology that would halve battery costs and enable cheaper electric vehicles. Currently, the Cybertruck is the only Tesla-made vehicle in production using the 4680 cells, per the news outlet. Tesla has faced significant challenges with the Cybertruck over the past year. The company offered discounted financing last March to move inventory, then launched 0% APR incentives in June as unsold trucks accumulated. Giga Texas has [Read more]
IMPACT SNAPSHOT
EVENT TIME:
TSLA
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS