Industry
L&F Tesla contract cutback rattles South Korean battery industry
L&F revised a Tesla high-nickel cathode materials supply contract signed in February 2023, cutting the reported value to 9.73 million won from 3.83 trillion won. The disclosure pushed L&F shares down about 26 percent. The company said schedules were adjusted amid changes in the global EV market and battery supply environment. Questions have also been raised over the timing of the firm’s treasury stock disposal and executives’ share sales.
