Tesla Cybertruck's 4680 battery supply chain collapses with over 99% drop in value

Having once been slated as the ‘holy grail’ of battery technology that would push the company to be a powerhouse in EV manufacturing, the 4680 battery supply chain for the Tesla Cybertruck has collapsed, with a 99 percent drop in value.

The Cybertruck was always touted to be a revolutionary EV that would be the standard against which every new car would have to live up to.

Much of that hype lay in the belief that the 4680 battery technology would be able to produce unparalleled performance for extremely low prices.

However, four years after it was announced at the ‘Battery Day’ expo, the supply chain for the 4680 battery has completely collapsed.

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Tesla’s 4680 battery supplier reports 99% cut on its contract

Back in September 2020, Tesla revealed that the 4680 battery would increase range by over 16 percent compared to any vehicle that they’d used before.

What’s more, the new, densely-packed technology was said to be able to produce lightning-quick charging times.

It’s quite safe to say that the battery has been impressive, but there appears to be more to unpack in this department, with many drivers wishing that the Cybertruck had a longer range.

However, it looks like the company is calling time on the 4680 battery as the South Korean supplier, L&F, has cited a 99 percent cut to its fee.

Originally worth $2.9 billion in 2023, L&F recently revealed that the contract was recorded as just $7,386.

While we won’t know for definite, this implies that the contract has been all but cancelled, and the 4680 battery as we know it is in a bad way.

What this means for the Tesla Cybertruck

Despite being a popular vehicle among those who have used it, the Tesla Cybertruck has struggled with sales.

In fact, the company has often tried to find last-gasp solutions to boost its Cybertruck sales figures, using them as advertisement fodder and military vehicles, and offering the public zero percent APR financing offers.

However, for the existing 4680 battery technology, it seems like Tesla has bitten the bullet and wound down its production.

Thankfully for Tesla, it opted to only use this power unit for the Cybertruck, rather than its entire fleet.

Ahead of new Cyber vehicles, it looks like a new battery unit will be needed.

Thankfully, there’s an abundance of suppliers knocking on the brand’s door, promising to increase its EV’s range by another 100 miles.

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