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South Korea's L&F slashes value of battery material supply deal with Tesla [BNN Bloomberg (Canada)]

Tesla, Inc. (TSLA)  More Company Research Source: BNN Bloomberg
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
L&F said in 2023 it had signed a deal to supply high nickel cathode materials to Tesla and its affiliates from January 2024 through December 2025. Sources and analysts said L&F had planned to supply the key materials for Tesla's in-house batteries known as 4680 cells. Tesla CEO Elon Musk unveiled a plan in 2020 to mass-produce the 4680, a less expensive battery that he said would help it make a small, compelling $25,000 electric car that was fully autonomous within about three years from then. However, as EV demand slowed and Tesla struggled to ramp up production and development of the 4680 cells, the company ultimately did not need as much cathode material from L&F as initially anticipated, analysts said. Neither Tesla nor L&F immediately responded to Reuters' requests for comments. Tesla currently uses the 4680 batteries in its slow-selling Cybertruck EVs, which have proved a major disappointment despite Musk's prediction of hundreds of thousands of annual sales. Musk has [Read more]
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Stockreport

South Korea's L&F slashes value of battery material supply deal with Tesla [BNN Bloomberg (Canada)]

Tesla, Inc.  (TSLA) 
More Company Research Source: BNN Bloomberg
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
L&F said in 2023 it had signed a deal to supply high nickel cathode materials to Tesla and its affiliates from January 2024 through December 2025. Sources and analysts said L&F had planned to supply the key materials for Tesla's in-house batteries known as 4680 cells. Tesla CEO Elon Musk unveiled a plan in 2020 to mass-produce the 4680, a less expensive battery that he said would help it make a small, compelling $25,000 electric car that was fully autonomous within about three years from then. However, as EV demand slowed and Tesla struggled to ramp up production and development of the 4680 cells, the company ultimately did not need as much cathode material from L&F as initially anticipated, analysts said. Neither Tesla nor L&F immediately responded to Reuters' requests for comments. Tesla currently uses the 4680 batteries in its slow-selling Cybertruck EVs, which have proved a major disappointment despite Musk's prediction of hundreds of thousands of annual sales. Musk 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