Changes in US stocks | Most NEV stocks fall, Tesla (TSLA.US) falls more than 2%

The Zhitong Finance App learned that on Monday, most NEV stocks were lower. As of press release, Tesla (TSLA.US) had fallen more than 2%, Xiaopeng (XPEV.US) had fallen more than 3%, Ideal Auto (LI.US) had fallen more than 2.3%, Rivian Automotive (RIVN.US) had fallen 1.6%; and NIO.US (NIO.US) had risen 1.3%. According to the news, some media quoted a person familiar with the matter as revealing that in the end, one of Tesla's suppliers only delivered a very small portion of the battery materials ordered by the automaker nearly three years ago, partly due to problems with the Cybertruck project. South Korea's L&F revealed on Monday that its supply contract of 3.83 trillion won (about 2.67 billion US dollars) with Tesla, which was first announced in February 2023, has been cut to 9.73 million won. In the documents submitted, L&F stated that the reason for the 99% reduction in the contract amount was due to a change in the quantity supplied. People familiar with the matter said that the high-nickel cathode material commissioned by L&F was originally scheduled to be delivered between January 2024 and this month, and was intended to be used in Cybertruck battery production. However, due to repeated delays in the development of this car, consumers chose other models, so few materials were actually delivered.