2025-12-30 20:48:52

A major supplier of high-nickel cathodes for EV batteries is facing a dramatic valuation collapse. Share prices have plummeted over 70% from the 2023 high watermark, wiping away gains that came after landing a massive Tesla deal initially pegged at $2.9 billion. The sharp reversal reflects broader shifts in the EV supply chain dynamics and battery material costs. What looked like a golden ticket just two years ago has turned into a cautionary tale about the risks of concentration risk and cyclical exposure in the energy transition sector.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

8 Likes

Reward
8
6
Repost
Share

Comment

0/400

TerraNeverForget

· 18h ago

Damn, even the Tesla deal can't save it. This is the consequence of betting on a single client.

View OriginalReply0

0xSunnyDay

· 18h ago

Tesla deal finally couldn't be saved after all --- Blown up two years ago with great hype, now it drops 70% in a snap, hilarious --- This is the result of betting on a single client... --- The water in the energy transition sector is really deep; it looks glamorous but is actually full of hidden pitfalls --- How are you all doing with the high-position buy-in in 2023? --- Concentration risk is something you have to learn from every time to understand, indeed --- Who can withstand such fierce nickel price fluctuations? --- Now I understand what "wealth on paper" means... --- Another cyclical trap, the EV supply chain really isn't as stable as it seems

View OriginalReply0

SybilAttackVictim

· 18h ago

This is the fate of betting on a single client; the Tesla deal can't save it either.

View OriginalReply0

AirdropBlackHole

· 18h ago

Another Tesla dream shattered, a 2.9 billion order can't save it... --- The nickel mine situation, the wind direction changed too quickly --- 70% decline, showing how aggressive the hype was back then --- Concentration risk is really deadly; relying on a single major customer is just not sustainable --- The so-called "golden ticket" hyped two years ago, now just a snap... --- Is the EV supply chain this fragile? Wow --- Betting everything on Tesla, only to be slapped back in the face --- The risks in the electric vehicle industry chain are still too great --- That's why you can't go all-in on a single customer

View OriginalReply0

MEVHunterZhang

· 18h ago

Damn, even Tesla can't save this order. This is the consequence of betting on a single customer.

View OriginalReply0

OptionWhisperer

· 18h ago

Damn, even a Tesla order can't save it. This is the consequence of betting on a single customer.

View OriginalReply0