Tesla adds China’s Sunwoda as fifth global EV battery supplier amid margin pressure

Tesla has added Sunwoda (also known as Xinwangda) as its fifth global power battery cell supplier, with LFP cells already shipping on Shanghai-built vehicles destined for export markets. The move continues Tesla’s aggressive push to diversify its battery supply chain and squeeze costs as automotive gross margins remain under pressure — down to roughly 15% from a peak of 27% in 2021. more…