SUMMARY
- L&F secures a massive order from Tesla, boosting the Jae-hong family's wealth
- Tesla's dominance triggers price war, resulting in record deliveries
- Electric-vehicle industry shares soar, inflating the wealth of their owners
Dude, you won't believe this! A single Tesla order has seriously turned a family's life around, like, big time. Their fortune skyrocketed to over $800 million. How rad is that?
So, L&F is this cool cathode company that scored a massive $2.9 billion order from Tesla this year, making their stock soar to the moon! The Jae-hong family, who owns stock in the battery-material firm, is now rolling in the dough, man.
Now, Tesla and L&F go way back. They've been BFFs for years, with Tesla getting L&F's cathodes through LG Energy Solution. But this time, Tesla became a direct client, which is, like, super significant.
After this sweet Tesla deal, L&F is playing it cool, expecting their dependence on LG Energy Solution to chill out to about 50% of their revenue by 2025. And guess what? Tesla's dominance is causing a price war, and it's totally working, with record first-quarter deliveries!
The best part? Shares of companies in the electric-vehicle game have been soaring, making their owners crazy rich. Just look at Ryu Kwang-ji, the chairman of Kumyang Co, whose stake is now worth a staggering $1.4 billion. Wild, right?
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