Tesla asked his suppliers to repay some of his money :: Investor.bg

Tesla Inc. (US) has asked some of its suppliers to repay the money that it had previously spent on coins and coins services. Demand reflects the automaker's urgency to maintain operations during a critical production period, The Wall Street Journal writes. The information is understood as a message that the company has sent to its supplier and requesting that a substantial sum be refunded in 2016

The announcement of the automaker was sent by a high-ranking person and describes the application as essential for the future work of Tesla, characterizing it as an investment in the company for long-term growth between two actors.

Although Tesla said in the announcement that all suppliers were asked to help make it profitable, it is unclear how many of them asked for a reduction on the backed up expenditures

Tesla declined to comment but they confirmed that they were seeking price reductions from suppliers dating back to 2016, some supplies not being completed. The company has identified these claims as a standard part of the public procurement negotiations to improve the competitive advantage, especially with the increase in the production of the model 3.

Surprising demands are raising. Other questions about Tesla's cash position, which dropped, after trying to increase production of its first car for mbad buyers – Model 3. After months of delays, Tesla has reached its goal to long term make 5000 model 3 in a week, which if maintained will help to generate money.

Car manufacturers and suppliers have a complicated relationship and each of them is fighting for the best deal in the face of strong price pressures. The supply chain consultants say that it is sometimes possible for manufacturers to demand a reduction in the price of a current contract, but it is unusual for manufacturers to make a price reduction. require reimbursement of previous labor costs

"It's absurd shows that Tesla is desperate right now. They are concerned about their profitability, but they are not interested in the profitability of their suppliers, "said Dennis Virag, a manufacturing consultant who has been working in the automotive industry for 40 years. [19659007] The net loss of Tesla for the first three months of 2018 increased to a record $ 784.6 million.In comparison, in the same period of 2017, the loss amounted to $ 397.2 million. In pursuit of its production targets, Tesla has used a significant portion of its free cash resources, and as a result, in the first three months of 2018, the company's money has grown from $ 3.4 billion to $ 2.7 billion

The company will have to pay $ 230 million convertible bonds in dollars in November if its shares do not reach a conversion price of $ 560.64. Friday session at a price of 3 $ 13.58, after falling 4.5% in the last 12 months.

As part of Tesla's attempted profitability, CEO Ilon Musk In August, he told badysts that Tesla had managed to negotiate longer payment terms – up to about 60 days for coins of model 3, which he called "nirvana". This will allow the automaker to do the car, get the money for it, and only then be asked for the bill by the suppliers.