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Tesla asked suppliers to recover the money they paid for previous shipments, in an effort to achieve profitability. The procedure can be described as a way for the manufacturer of electric cars to obtain retroactive discounts, reports the Wall Street Journal.
One of Tesla's global supplier officials sent a letter requesting a significant portion of payments since 2016. It is decisive Tesla continues to do business but also to invest in the long-term growth of the automaker, which will benefit its suppliers.
Tesla refuses to comment on the specific case, but confirms that the company applies retroactive discounts for specific projects.
A quarter of Tesla's customers withdrew their orders
The letter created additional uncertainty about the company's financial situation. According to the Wall Street Journal, Tesla had negative cash flow of $ 1 billion each quarter, with $ 2.7 billion in the fund.
Industry reviewers say that it is very unusual for automakers to claim money from their suppliers. "It's just ridiculous and just shows that Tesla is desperate right now," said Dennis Virag, a manufacturing consultant with 40 years of experience in the auto industry, at the Wall Street Journal.
(Finwire / Digital Diary)
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