Tesla Model 3 Production to Start July & CFO Resigns

It’s been a busy week for electric car automaker Tesla. From its production shifting to accommodate the Tesla Model 3, to its CFO departing and being replaced, Tesla has a lot to prove coming up to the launch of their much-awaited flagship electric vehicle, the Model 3.

Old CFO Departs

Tesla announced on its blog page that its CFO Jason Wheeler has left the company in April 2017 to pursue “opportunities in public policy”.  Instead, Jason will be replaced with former CFO Deepak Ahuja who was ” Tesla’s first CFO and worked for the company for more than seven years before stepping away in 2015. Deepak will formally take over as CFO in early March, with Jason remaining at Tesla through early April to ensure a smooth transition.”  Deepak has many years experience in the automotive industry with Ford and his institutional knowledge of Tesla will beneficial in ensuring the smooth transition to CFO.

Tesla states that “Jason made a number of significant contributions at Tesla, including leading the company to a profitable third quarter last year, significantly improving the company’s cash position, helping to lead the acquisition of SolarCity, and preparing Tesla to scale for the launch of Model 3.”

“It is a very important time in the history of Tesla, and I’m excited to be back,” Ahuja said. “This is a unique opportunity to rejoin the talented and driven team at Tesla. Every day they are working passionately to significantly improve the long-term future of humanity.”

“Jason has been a key member of Tesla’s leadership team, and he has played an important role in further improving the company’s financial position,” said Tesla co-founder and CEO, Elon Musk. “I want to thank Jason and wish him success as he moves into public policy. Looking ahead, we’re pleased to have Deepak join us again to ensure a seamless transition for Tesla.”

Model 3 Prepares for Production

In Tesla’s final earnings report for 2016, it gives a glimpse of what to expect in the 2017 year. In a letter to its shareholders, Elon Musk reported that the Model 3 production is “on track to start July” and will ramp up production in September. Hopefully, we won’t see the same delays the Model X had when it first released. 

Further, in the letter, Tesla mentioned that it’s planning to double the supercharger locations in North America which would ease some range issues people have. 

Tesla also plans to produce 71 percent more cars (between 47,000 and 50,000) in the first half of 2017 as compared to the first half of 2016, and it will announce locations on Gigafactories 3, 4 and 5 later this year.

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About Benjamin

Ben started Quadoop as a medium to express his deep passion for the technology industry as well as the ever expanding video game and space industries. He also loves to write about the great technological advancements other countries are making in their economy especially in their strides in the technology and space industries.

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