Tesla orders billions of dollars worth of cathode material from L&F
South Korean battery materials manufacturer L&F has won a 2.9 billion dollar deal from Tesla. L&F Co. will supply the carmaker with high-nickel cathode materials in 2024 and 2025.
L&F’s brief announcement gives few details other than the price, and the amount could change depending on fluctuations in the exchange rate or raw material prices.
According to Teslarati, the contract covers about 77,000 tons of high-nickel cathode material, enough for the batteries of about 783,000 electric cars. If true, the cathode material alone would cost an average of 3,700 dollars per vehicle.
Where exactly Tesla plans to use the ordered cathode material is not known. It will likely be used for the in-house production of 4680 round cells in the USA. However, it would also be possible to use it in 2170 production – but the emphasis on “batteries with a high nickel content” rather points to the 4680 cells.