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Tesla loses its VP of production: Electrek

2019-06-26 19:08    Investing

Tesla loses its VP of production: Electrek Technology News

© Reuters. FILE PHOTO: The Tesla factory is seen in Fremont

(Reuters) - Tesla (NASDAQ:TSLA) Inc's vice president of production in charge of all vehicle manufacturing at Fremont factory, Peter Hochholdinger, is not at the automaker anymore, news website Electrek reported on Wednesday, citing a source familiar with the matter.

Hochholdinger is the latest in a string of high-profile executives to leave Tesla over the past two years as the electric carmaker struggles to ramp up production of Model 3 sedan, which is seen as crucial for its long-term profitability.

Tesla and Hochholdinger did not immediately respond to Reuters' requests for comment.

Demand for Tesla cars is one of the major concerns of investors after the company reported slack demand in the first quarter against the backdrop of U.S.-China trade tensions. Tesla had reported a 31% fall in first-quarter deliveries and had warned that profit would be delayed until the latter half of the year.

Three years ago, Hochholdinger was hired as Tesla's vice president of vehicle production from Volkswagen (DE:VOWG_p) AG.

Hochholdinger spent 22 years at Audi, Volkswagen's flagship premium brand, where he worked across the entire production chain. He served as an adviser for bringing Audi's new production facility in Mexico.

Tesla is expected to report its second-quarter delivery and production numbers in July. Shares of Tesla fell nearly 1% in premarket trading.

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