Tesla Inc. has reached out to at least some of its landlords seeking rent reductions, according to firms contacted by the car company, as the auto maker looks for cost savings in response to the novel coronavirus outbreak that has closed much of its business.
“The rapid world pandemic that is now affecting our country has led Tesla to make strategic decisions to ensure the company’s long term success and growth,” read an email the company sent to landlords that was reviewed by The Wall Street Journal. “As a result of the increasing restrictions on our ability to conduct business, we would like to inform you that we will be reducing our monthly rent obligations effective immediately.”
