Monday, March 6, 2023

Tesla’s big reveal

A look at the bench behind Tesla's CEO.

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More Than Just Elon Musk 

Tesla disappointed some investors last week by offering little new information about the next-generation, lower-cost vehicles it's working on.

What they did see was an unprecedented number of executives share the stage with Elon Musk, who irked some shareholders by acquiring Twitter for $44 billion last year and funding the deal at least in part by selling billions of dollars worth of Tesla stock.

Twitter didn't come up at all during the roughly four-hour-long affair, and no one asked the chief executive officer about the amount of time and attention he's devoting to Tesla relative to the four other companies he runs. But the carmaker sent a clear message to those concerned about corporate governance and succession planning by putting 16 other executives in front of investors: We're more than just Musk.

"We have an active and engaged board and management team," Brandon Ehrhart, Tesla's new general counsel and corporate secretary, said more than two hours into the event. "We've met with you, and today is the culmination of that. We've heard you, which is why we're excited to share this investor day with you."

Musk has long cared deeply about being the public face of Tesla, going back to when it was a startup just getting off the ground. While this worked to the company's advantage for years, his seemingly constant pot-stirring has turned off some consumers. Tesla also is unusually opaque about its management team, naming just three executive officers in regulatory filings.

Here's a recap of the executives who presented Tesla's master plan and briefed investors on its past, present and future:

Drew Baglino, senior vice president of powertrain and engineering, with CEO Elon Musk. Source: Tesla

Drew Baglino has been Tesla's de-facto chief technology officer since co-founder J.B. Straubel left in 2019. He's one of Tesla's three named executives and has shared the spotlight with Musk on earnings calls and past events, including battery day in September 2020.

Zachary Kirkhorn, chief financial officer. Source: Tesla

CFO Zachary Kirkhorn was given a satirical title along with Musk two years ago, but the master of coin's focus on cost reduction has been no joke.

Tom Zhu, head of global production, sales and service. Source: Tesla

Tom Zhu is the carmaker's most prominent rising star. He oversaw Asia Pacific operations, was the driving force behind the company's Shanghai plant becoming its most productive worldwide and took over Tesla's headquarters factory in Austin, Texas, late last year.

Las Moravy, vice president of vehicle engineering, and Franz von Holzhausen, chief designer. Source: Tesla

Lars Moravy and Franz von Holzhausen stayed at Tesla through years of high turnover among Musk's direct reports. Moravy joined from Honda more than 13 years ago. Von Holzhausen was a designer at Volkswagen, General Motors and Mazda before joining Tesla in 2008.

Colin Campbell, vice president of powertrain engineering. Source: Tesla

Colin Campbell moved shares of rare earth metal miners and certain chip suppliers with his comments on Tesla's next-generation drive unit. He said the powertrain will reduce silicon carbide use by 75% and that the company has designed a permanent magnet motor that won't contain any rare earths.

David Lau, vice president of software engineering, and Pete Bannon, vice president of low voltage architecture and silicon engineering. Source: Tesla

Pete Bannon briefed investors on how Tesla has taken more of a hands-on role in designing low-voltage devices that are part of the wire harnesses other automakers temporarily lost supply of last year, after Russia invaded Ukraine. David Lau spoke about how the company keeps improving its cars through over-the-air software updates and data collected from its fleet.

Ashok Elluswamy, director of Autopilot software. Source: Tesla

Ashok Elluswamy provided updates on the products Tesla markets as Autopilot and Full Self-Driving, both of which are support features reliant on human drivers responsible for operating their vehicle at all times.

Rebecca Tinucci, head of global charging infrastructure. Source: Tesla

Rebecca Tinucci was one of only two women to present at the event. She explained how Tesla's "Magic Dock" opens its charging stations to other automakers' EVs.

Roshan Thomas and Karn Budhiraj, vice presidents of supply chain. Source: Tesla

Karn Budhiraj, who oversees electronics, powertrain and battery supply chain, and Roshan Thomas, who manages vehicle commodities, solar, logistics, planning and capital equipment, elaborated on how Tesla managed through supply chain disruptions the last few years by closely integrating with partners and designing certain components in-house.

Mike Snyder, head of Megapack. Source: Tesla

Mike Snyder gave an update on Megapack, Tesla's energy storage offering for utilities and commercial customers.

Brandon Ehrhart, general counsel and corporate secretary. Source: Tesla

Ehrhart joined from Dish Network early this year in one of Tesla's more significant outside hires in years. He cryptically told investors that they'll "hear more from our board at the appropriate time," without elaborating on subject matter or timing.

Laurie Shelby, vice president of environment, health and safety. Source: Tesla

Laurie Shelby joined Tesla in 2017 from aluminum producer Alcoa. She played a role in the company's push to resume production three years ago at its factory in Fremont, California, in defiance of a county shutdown order Musk described as fascist.

News Briefs

More Cuts

Tesla marked down the cost of the Model S and X again, days after Elon Musk said price changes early this year had a "very big" effect on demand.

Before You Go

Max Verstappen of Red Bull Racing during qualifying ahead of the F1 Grand Prix of Japan in October. Photographer: Peter Fox/Getty Images

Netflix's depiction of Formula One is "like the Kardashians on wheels at times," Red Bull Team Principal Christian Horner said in an interview with Bloomberg Television. "Drive to Survive has introduced F1 to a whole new audience, a younger and American audience."

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