Elon Musk chases a profit – Tesla requests repayments from suppliers

Tesla's share price is once again under pressure, after the company requested repayments and rebates from suppliers in order to secure the EV manufacturer's long-term viability.

Photo: /ritzau/AP/Mark Lennihan

Give us a larger discount, and send back some of the money we have already spent – then we will be able to reach our 2018 profit target.

That was – in short – more or less the gist of the Tesla's memo sent last week to a series of its suppliers, reports The Wall Street Journal. News of this sent Tesla equity into a 6 percent decline, when markets opened Monday morning in the US. The share price fluctuated throughout the day and finally landed at a 3.1 percent depreciation.

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