FILE PHOTO: The Tesla factory in Fremont, California, USA, June 22, 2018. REUTERS/Stephen Lam/File Photo
(Reuters) – Tesla, Inc., the, vice-president of production at the factory in Fremont, Peter, Hochholdinger, after three years, the electric-car maker, a source familiar with the matter told Reuters.
He has been responsible for the improvement of the production of Tesla’s luxurious Model S sedan and the Model X sport-utility vehicle, as well as helping to build a cost-effective production program for Model-3, the company was said to be few.rs/2KFSyd2 in the appointment memo.
Hochholdinger’s departure is the latest in a string of high-profile executives to leave a Tesla in the last two years, as the car maker struggles to increase production of the Model 3 sedan, which is regarded as crucial for the long-term profitability.
He joined Tesla from Volkswagen AG, where he was for 22 years, overseeing the production of the Audi A4, A5 and Q5 models. As to Audi, a new production facility in Mexico, he served as a consultant.
Both the Model and Hochholdinger did not respond to Reuters ‘ requests for comment.
The demand Model is one of the major concerns of the investors, after the company reported slack demand in the first quarter, against the backdrop of the U.S.-chinese trade tensions.
Tesla reported a 31 percent drop in first-quarter deliveries, and warned that its earnings would be delayed until the second half of the year.
The car maker is expected to report its second-quarter delivery, and production quantities in July.
The company’s shares were up almost 2% at $223.95.
Reporting Akanksha Rana and Vibhuti Sharma in Bengaluru; Editing by James Emmanuel and Arun Koyyur