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Tesla reportedly asked suppliers for cash back to help it reach profitability

2 monthes ago   |   By TechCrunch

In an unusual move, Tesla has reportedly asked some suppliers to return part of the money it paid them for work already completed. According to the Wall Street Journal , which reviewed a memo Tesla sent to a supplier last week, the electric auto maker said it is asking suppliers for refunds to help it reach profitability. This stokes concerns about the company's cash flow, despite earlier assurances from Tesla founder and CEO Elon Musk that it will be profitable in the third and fourth quarters of this year.
After months of production delays for the Model 3, Tesla recently hit a major...
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