Tesla stock slips as supplier guts $2.9 bln battery deal to $7,386
Tesla shares dropped 2.2% to $464.88 in early trading Monday after South Korea’s L&F cut the value of a battery-material supply deal with Tesla from $2.9 billion to $7,386. L&F did not give a reason for the reduction. The deal covers high-nickel cathode materials for Tesla’s in-house 4680 batteries used in the Cybertruck. Neither company immediately commented.