Tesla Inc. has appointed Vaibhav Taneja, as its new Chief Financial Officer (CFO). Taneja will succeed Zachary Kirkhorn, who recently stepped down after a thirteen-year tenure with the company, during which he served as Master of Coin and CFO. Taneja will assume the role of CFO in addition to his current position as Chief Accounting Officer at Tesla, the world’s most valued automaker.
Vaibhav Taneja is New CFO of Tesla, Know His Background Here
Before being appointed CFO, Taneja held various key positions at Tesla, including Chief Accounting Officer since March 2019, Corporate Controller from May 2018, and Assistant Corporate Controller between February 2017 and May 2018. Prior to joining Tesla, he served in finance and accounting roles at SolarCity Corporation starting from March 2016. Before that, Taneja had a successful career at PricewaterhouseCoopers in both India and the U.S. from July 1999 to March 2016.
Kirkhorn, the outgoing CFO, will continue to support the company through the transition period until the end of the year.
Tesla, as the world’s largest automaker in terms of market capitalization, reported a net income of $2.7 billion in the second quarter, marking a 20% increase compared to the same period the previous year. The company’s revenue for the quarter stood at $24.9 billion, a nearly 50% growth from the Q2 2022 revenue of $16.9 billion.
Taneja’s appointment comes at a significant time as Tesla is planning to establish a factory in India to produce low-cost electric vehicles. During a meeting with Prime Minister Narendra Modi in New York, Tesla CEO Elon Musk expressed confidence in the company’s expansion into India. Musk praised India’s potential and its promise as a large country, stating that he believes India has more promise than any other nation in the world.
Musk further emphasized his commitment to making significant investments in India’s sustainable energy generation through wind and solar. He shared his belief that the land area needed to generate electricity to power India is relatively small, around 1-2% of the country’s total land area. Musk stressed the importance of pairing sustainable energy with stationary battery packs and electric vehicles to achieve a cost-effective and environmentally friendly energy future.