Archive: https://archive.today/vMx2s From the post: >>A major link in Tesla’s 4680 battery supply chain has just snapped. South Korean battery material supplier L&F Co. announced today that the value of its massive supply deal with Tesla has been slashed by over 99%, signaling a catastrophic drop in demand for the automaker’s in-house battery cells. This is arguably the strongest evidence yet that Tesla’s 4680 program, and the vehicle that relies on it, the Cybertruck, is in serious trouble. In early 2023, L&F announced a $2.9 billion contract to supply high-nickel cathode materials directly to Tesla. At the time, the industry saw this as a major move by Tesla to secure materials for its ramp-up of the 4680 battery cell, which Elon Musk had touted as the key to halving battery costs and enabling cheaper electric vehicles, a plan he later scrapped. Right now, Tesla’s Cybertruck is the only vehicle using the automaker’s own 4680 cells.