Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Tesla taps Audi executive as vice president of vehicle production

Published 14/05/2016, 04:22
© Reuters. A Tesla logo hang on a building outside of a Tesla dealership in New York
TSLA
-
VOWG_p
-

(Reuters) - Tesla Motors Inc (O:TSLA) said on Friday it hired Volkswagen (DE:VOWG_p) executive Peter Hochholdinger as its vice president of vehicle production.

Hochholdinger will be tasked with improving and increasing production for Tesla's luxury Model S sedan and Model X sport utility vehicle, as well as helping build a scalable, cost-effective manufacturing program specifically designed for the Model 3, the company said in a statement.

Tesla is looking to ramp up production five-fold in two years to 500,000 vehicles per year, a task many industry observers say appears nearly impossible even with the hiring of key talent.

The electric-auto maker's aggressive new production timeframe, announced by its chief executive, Elon Musk, in a first-quarter earnings call, puts intense pressure on suppliers and calls into question the company's ability to accelerate its assembly line. Design of the Model 3, due in late 2017, is not yet complete, adding to the time crunch.

Musk earlier this month also gave a public shout-out to the sharpest minds in manufacturing, calling on them to come help Tesla meet its target, days after announcing the departure of the company's vice presidents in charge of production and manufacturing.

© Reuters. A Tesla logo hang on a building outside of a Tesla dealership in New York

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 online in Mexico.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.