Shares are down more than 3% after The Wall Street Journal reported that Tesla (TSLA) is asking some suppliers for partial refunds, another sign of a cash crunch at the company.


The Journal cited a memo from a manager to a supplier, saying that all suppliers are being asked to help Tesla become profitable.


A Tesla spokesman told CNNMoney that it asked "fewer than 10" suppliers for money back for long-term projects that began in 2016 and have not yet been completed, The spokesman said the cost savings will help Tesla increase its production volume, though he claimed Tesla would be profitable without the concessions.

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