South Korean battery material maker L&F has significantly reduced the projected value of its 2023 supply deal with Tesla to $7.386 billion from an earlier estimate of $2.9 billion. The deal, initially for high-nickel cathode materials for Tesla's 4680 cells through December 2025, has seen reduced orders. Analysts suggest this is due to Tesla's struggles in ramping up 4680 cell production, slower EV demand, and challenges with new battery processes, impacting L&F's anticipated supply.