Tesla Cybertruck Flop Proves Costly for South Korean Supplier

A supplier to Tesla Inc. ended up providing a tiny fraction of battery material the carmaker ordered almost three years ago, in part due to issues with the Cybertruck, according to a person familiar with the matter.

South Korea’s L&F Co. disclosed Monday that its 3.83 trillion won ($2.67 billion) supply contract with Tesla, first announced in February 2023, had been slashed to just 9.73 million won. In a filing, L&F said the reason for the 99% reduction was a change in supply quantity.