According to foreign media citing people familiar with the matter, Tesla's energy unit lost two important executives as company CEO Elon Musk promised to completely restructure the management team of the electric car manufacturer .
ArchPadmanabhan, product director of Tesla's fixed storage division, and Bob Rudd, former SolarCity vice president and responsible for North American commercial and utility sales, both left the company. Tesla did not comment on their departure. Padmanabhan said he was working on a new project but declined to elaborate. Rade could not be reached for comment.
At this point, the loss-making electric car maker has lost many executives. Matthew Schwall, who is in charge of communicating with US regulators, left Tesla and switched to Waymo, a Google-owned self-driving car company. Jim Keller, who is responsible for driving assistance system Autopilot, jumped to Intel last month. Two finance executives left in March, and sales director Jon McNeil moved to taxi service company Lyft in February this year. Musk told employees in an email on Monday that he was "leveling" Tesla's management structure to improve communication.
Tesla only listed four executives in its latest agency statement: Musk, CFO DeepakAhuja, CTO JBStraubel, and Engineering Pipeline Gerfeld (DougField). Among them, Field Director Field is on vacation.
Due to bad news, the company's stock price has fallen for the fourth consecutive trading day. Some institutions, including Morgan Stanley, are pessimistic about Tesla's production woes.
With its lithium-ion battery technology, Tesla positions itself as a key player in the emerging energy storage market, which can complement and may eventually threaten traditional grids. At an earnings call in February 2015, Musk first announced that Tesla was developing a home battery, which is now called "Powerwall". Tesla later acquired SolarCity, a solar panel installation company, and Musk was also its chairman. The combined company had nearly 40,000 employees at the end of 2017.
Some states, including California and New York, see energy storage as a key tool, hoping to better manage the grid, integrate more and more solar and wind energy, and reduce greenhouse gas emissions. Tesla has partnered with Southern California Edison to provide batteries for the company's MiraLoma substation.