- Tesla (TSLA +0.6%) suppliers are concerned about exposure to the EV automaker after payments terms were stretched out in some cases and requests for cash back made in others.
- The Wall Street Journal reports that a recent survey sent privately by the Original Equipment Suppliers Association indicated that 18 of 22 exec-level respondents believe that Tesla is now a financial risk to their companies.
- Upper management with Tesla has maintained that the company's relationship with suppliers is strong. In addition, sources told the WSJ that Tesla has improved its on-time payments to production-related suppliers to ~95% from 90% last year.
- The WSJ says it has seen documents indicating that Tesla had a cash balance of $1.69B on August 12.