Tesla Inc suppliers are bracing for pressure from Chief Executive Elon Musk and his team to cut their prices further after the electric car leader aggressively slashed vehicle prices in a slowing economy, industry officials who work with the automaker and its suppliers said.
. That threatens to erode Tesla's profit margins, which are the largest in the industry.
More price cuts could be painful in a sector where some suppliers are already struggling, industry officials said. Sharkey, the supplier attorney, warned: "All of these suppliers are not charities. They need to make money and if they lose money, then they're in financial distress." "Honestly, we don't have a lot of pushback from the car companies," NXP CEO Kurt Sievers told Reuters on Tuesday.
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