Hello and welcome to the Monday July 23rd 2018 edition of Tesla Daily on

official Tesla Podcast.

My name is Rob Mower.

Today we are talking about a couple of pieces of news from the Wall Street Journal.

Tesla stock on Friday closed down 2.08% to $3.13.58 cents,

as compared to the Nasdak down3.13.58, this compared to the NASDAQ down 0.07 percent.

Currently in the pre-market Tesla is also down about 3.5 percent to $302.

This seems to be driven by an article yesterday evening from the Wall Street Journal

with the headline of, quote, Tesla asks suppliers for cash back to help turn a profit, end quote.

The article said, quote, the Silicon Valley Electric Car Company said it is asking its suppliers for cash back to help it become profitable

according to a memo reviewed by the Wall Street Journal that was sent to a

supplier last week. Tesla requested the supplier return what it calls a meaningful amount of

money of its payments since 2016 according to the memo. The automakers memo sent by a

global supply manager described the request as essential to Tesla's continued operation

and characterized it as an investment in the car company to continue the long-term

growth between both players."

End quote.

Tesla did not comment on this specific memo but they said that they are having ongoing

negotiations with suppliers as part of their general business practice.

Elon on Twitter responded to ElectraX covering of this report and said quote only costs that actually apply to Q3 and beyond will be counted

It would not be correct to apply historical cost savings to current quarter end quote

So that's one of the pieces that doesn't make a lot of sense with the Wall Street journals reporting on this topic.

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