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Tesla's $2.9 Billion Battery Deal Just Collapsed to $7,386
Published 2 months, 3 weeks ago
Description
South Korean supplier L&F announced that its $2.9 billion contract to supply battery materials to Tesla has been written down to just $7,386, a reduction of more than 99 percent. The materials were intended for Tesla's 4680 battery cells, which power the Cybertruck. With the Cybertruck selling at a fraction of its production capacity and the $25,000 Tesla cancelled, the 4680 program that Musk promised would halve battery costs has collapsed.