Latest news with #VaibhavTaneja
Forbes
12 hours ago
- Automotive
- Forbes
Speculation Swirls Around Mystery Tesla Model
MELBOURNE, VICTORIA, AUSTRALIA - 2025/04/04: Tesla Model Y set for reveal during media launch of ... More Melbourne Motor Show 2025. (Photo by Alexander Bogatyrev/SOPA Images/LightRocket via Getty Images) A new Tesla model – possibly a minimalist version of an existing model – is slated to begin production this month, fueling speculation about what exactly it is. Tesla executives have been pretty clear about timing. 'We're still focused on bringing cheaper models to market soon. The start of production is still planned for June,' said Tesla chief financial officer Vaibhav Taneja during the first quarter earnings conference call on April 22. A June 2 Reuters story claims to confirm that the so-called $25,000 'Model 2' was canceled by CEO Elon Musk. This comes more than a year after Musk denied the original April 2024 Reuters report about cancellation of the project, saying at that time that 'Reuters is lying." The Model 2 – nomenclature used by analysts to designate a low-cost Tesla – was supposed to be a revolutionary low-cost vehicle that used Tesla's latest and greatest manufacturing technology to reduce production costs. Signs now point to a less radical design based on existing platforms. Reuters now reports that something much less ambitious called E41 is planned but claims it is delayed until later this year or early next year. That timing would seem to contradict what Tesla's CFO said (above) in the Q1 earning conference call, though Lars Moravy, VP Vehicle Engineering at Tesla, did mention that the 'ramp maybe -- might be a little slower than we had hoped initially" when referring to the future affordable models. Last week, a Model Y in camo wrap at the Tesla Fremont, Calif. factory sparked speculation that Tesla was about to start production of a new stripped down Model Y. But pushback on social media claimed that it was simply the unannounced Performance version of the Juniper Model Y. And camo-wrapped Model Ys have appeared elsewhere that appear to be the Performance version. That didn't stop speculation that the Fremont images appear to show different proportions than the standard Tesla Model Y, possibly shorter or more compact, which would be in line with a stripped down model. Unsupervised robotaxis will hit roads in Austin in June, Elon Musk said in an interview with CNBC. Unsupervised means the car has no human driver – like Waymo's robotaxi service. 'We have thousands of cars that are being tested,' Musk said, adding that initial deployment will be very small but Musk expects that "we will probably be at 1,000 within a few months" then expand to other cities such as San Francisco and Los Angeles. That event could also host new vehicles. Tesla has already demonstrated the radical-looking Cybercab. And it's probably not a coincidence that Tesla is also scheduled to start production of the new unannounced affordable model in June. That upcoming model is expected to use a mixed-platform approach, combining components from Tesla's next-generation platform and existing Model 3/Y architecture. The new affordable Tesla is expected to be autonomous-capable and FSD compliant.
Yahoo
01-06-2025
- Automotive
- Yahoo
Drone Footage Shows What Appears to Be a Cheap Tesla Prototype Zooming Around a Test Track
A YouTuber flew a drone over Tesla's Fremont test track and saw what may be its new cheap model racing around it. As spotted by Teslarati, new flyover footage from an account that calls itself "Met God in Wildnerness" — which along with frequent Fremont flyovers also publishes what appear to be Christian missives in Chinese — there's a good chance that the disguised vehicle could be a prototype for Tesla's purported affordable model. "A disguised Tesla car testing on test track," the video's caption reads. "We could be seeing the new low cost model." Though the blog describes the vehicle as resembling a "compact Model Y," the black-and-white machine looks to our eyes like an elongated Volkswagen Beetle. In the video, it's seen stopping and going on the track, which is located off to the side of Tesla's manufacturing plant in Fremont, California, followed by a disguised Cybertruck. In its writeup, Teslarati notes that although there's a possibility the car is the new performance version of the Model Y, its compact size suggests it could be a prototype for the long-teased affordable model. As InsideEVs pinpointed back in April, Tesla admitted in its abysmal first-quarter earnings report for 2025 that switching over production lines to make room for the new Performance Model Y, which resulted in "several weeks of lost production" on the upgrade, was also paramount as it seeks to produce cheaper versions of its cars. "During the switchover, we also prepared our factories for the launch of new models later this year," the report's fine print read. "Given economic uncertainty resulting from changing trade policy, more affordable options are as critical as ever." When discussing that earnings report in an investor call, CFO Vaibhav Taneja said that production of the cheaper model — which may utilize design aspects of Model 3 and Model Y — is "planned for June." As with most of the company's timelines, we're taking that one with several grains of salt — especially because CEO Elon Musk was mocking the idea of a $25,000 Tesla, which he'd been promised for years, less than a year ago. Right now, we don't know any specifics about what will constitute an "affordable" Tesla or when it will hit production lines or dealerships — but that flyover video could be our first glimpse of what's to come. More on Tesla: Tesla Can't Find Legal Places to Store All Its Unsold Cybertrucks Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
25-05-2025
- Automotive
- Yahoo
Tesla's New $30K Car vs. 3 Other Entry-Level EVs: Which Is Best?
Tesla has long promised a more affordable electric vehicle, and it looks like the time is finally here. According to Car & Driver, Tesla will begin producing its lower-cost EV in June. As is often the case with Tesla, specific details are hard to come by, but the company did say that the new model will 'resemble in form and shape the cars that we currently make.' In other words, the new vehicle might simply be a stripped-down version of the company's existing vehicles, with less luxurious features in exchange for the lower price. Here's what industry experts are saying about what a potential low-cost Tesla EV might include, along with a look at how it might match up with some of its competitors. Discover Next: Be Aware: As the new Tesla has not yet begun production, there are no real-world specs available on it just yet. But industry experts and trade publications have projections as to what this car may offer, based on a combination of inside information and speculation. Car & Driver envisions the entry-level vehicle as essentially being a stripped-down Model Y, which would help keep costs down. This is based in part on the comments of Tesla's CFO himself, Vaibhav Taneja, who said that the new model would be produced using the company's existing lines. As Taneja said, 'Using our existing lines, there's always limitations as to how many different form factors you can bring. So, that's the way you should think about it.' That's essentially a direct indication from the company's own CFO that the new vehicle would be based in large part on existing models. The car reportedly has a target price of less than $30,000, which would make it much less expensive than any other vehicle in the Tesla lineup. However, as Car & Driver notes, this price might be including the EV tax credit. Industry publications Inside EVs and Electrek have some insight as to the ways that Tesla can save money with the new entry-level model. Here are some concessions that may have to be made in order to keep the price point low: Cloth seats instead of traditional Tesla vegan leather No heated seats or steering wheel Single-color lighting system rather than multi-color No back-seat screen for passengers Acoustic glass may potentially only be on the front windows While these are best-guesses, they are all ways to save money, so at least some of them are likely to come to fruition in the entry-level Tesla vehicle. Check Out: Tesla isn't the first or only EV maker with a vehicle in the $30,000 price range. As Tesla has some level of luxury cache, some buyers might not want to buy a 'cut-rate' Tesla and may prefer other vehicles. Here are the top competitors, according to Car & Driver. Starting Price: $29,280 The Nissan Leaf is currently the only EV available for a starting price of under $30,000, and that's likely to remain the case even if/when Tesla rolls out its new entry-level model. Although the range on the Leaf is limited, at about 149 miles, it's praised for its roomy cabin and comfortable seats. Starting Price: $34,425 The Kona is a bit of a step up in price but still falls well below the average cost for a new car. Range is better than the Leaf, at over 200 miles, and Car & Driver praises it for its large cargo capacity and comfortable ride quality. Starting Price: $34,995 The Chevy Equinox EV offers a solid range of 319 miles, well above its other lower-priced competitors. Its interior was dubbed 'modern and comfortable' by Car & Driver. Though it's an American brand, most of the assembly for the Chevy Equinox EV takes place in Canada. Although the excitement around a low-cost Tesla is palpable, the question buyers have to ask is whether or not the car will be worth it. Will all the magical things that make a Tesla a Tesla be stripped away to reach that price point? If so, there are plenty of other worthwhile competitors in the space to consider. More From GOBankingRates Here's the Minimum Salary Required To Be Considered Upper Class in 2025 10 Cars That Outlast the Average Vehicle This article originally appeared on Tesla's New $30K Car vs. 3 Other Entry-Level EVs: Which Is Best? Sign in to access your portfolio
Globe and Mail
24-05-2025
- Automotive
- Globe and Mail
Tesla (TSLA) Finance Chief Gets Record $139 Million Pay Package
Electric vehicle maker Tesla (TSLA) has achieved a new milestone with a record $139 million pay package awarded to its chief financial officer (CFO) Vaibhav Taneja. Confident Investing Starts Here: The pay awarded to Taneja is more than most CEOs receive, and the highest amount ever paid to a CFO, according to Equilar, a company that specializes in executive intelligence and tracks compensation among senior managers at publicly traded companies. The pay package awarded to Tesla's CFO Taneja surpasses the $86 million awarded to hydrogen-truck maker Nikola's CFO back in 2020. Nikola filed for bankruptcy earlier this year. Taneja's compensation is largely tied to stock options and equity awards he received in October 2024. The 47-year-old has held other financial roles at Tesla since 2017. Musk's Pay News of Taneja's big pay day comes as Tesla CEO Elon Musk continues to work without a paycheck. Tesla's board has formed a special committee to review Musk's compensation. His pay has been tied up in legal wrangling since a multibillion dollar stock grant awarded to him by Tesla's board of directors was voided by a judge after shareholders filed a lawsuit. The automaker is appealing the court decision. Taneja's stock awards vest, or become his property, in 2028. The CFO's pay was awarded during a period of volatility at Tesla. While the stock has risen following the re-election last autumn of U.S. President Donald Trump, Tesla's electric vehicle deliveries fell during this year's first quarter for the first time in more than a decade. TSLA stock has declined 15% this year. Is TSLA Stock a Buy? The stock of Tesla has a consensus Hold rating among 37 Wall Street analysts. That rating is based on 16 Buy, 10 Hold, and 11 Sell recommendations issued in the last three months. The average TSLA price target of $282.61 implies 17.37% downside from current levels. Disclaimer & Disclosure Report an Issue
Time of India
22-05-2025
- Automotive
- Time of India
Vaibhav Taneja net worth: Check out how much the Tesla CFO earns
Credit: X/Vaibhav Taneja Indian-origin executive Vaibhav Taneja, Tesla's Chief Financial Officer (CFO), has made global headlines by earning a jaw-dropping $139.5 million in total compensation for 2024, making him the highest-paid CFO in the world. The bulk of this income stems not from his base salary of $400,000, but from stock options and equity awards granted after his promotion to CFO in August 2023. His compensation package surpassed even the earnings of top tech CEOs like Satya Nadella of Microsoft and Sundar Pichai of Google. From Delhi University to the pinnacle of Tesla Vaibhav Taneja's success story began in New Delhi, India, where he earned a Bachelor of Commerce degree from Delhi University in 1999. A year later, he qualified as a Chartered Accountant through the Institute of Chartered Accountants of India. Determined to expand his global footprint, Taneja became a Certified Public Accountant (CPA) in the United States in 2006. He then spent nearly 17 years at PricewaterhouseCoopers (PwC), gaining extensive experience in assurance services across both India and the U.S., eventually serving as a Senior Manager. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo In 2016, he took a pivotal leap by joining SolarCity, a solar energy firm that would soon be acquired by Tesla. Taneja's rise at Tesla Following Tesla's acquisition of SolarCity in 2017, Taneja joined the electric vehicle giant as an Assistant Corporate Controller. His rise through the ranks was rapid and well-earned. He became Corporate Controller in 2018, was appointed Chief Accounting Officer in 2019, and ultimately took over as Chief Financial Officer in August 2023, succeeding Zach Kirkhorn. Taneja is not only influential at Tesla's global headquarters—he also plays a crucial role in the company's Indian operations, serving as a director at Tesla India Motors and Energy Private Limited, where he contributes to shaping the brand's entry and expansion strategy in India. How he earned a record-breaking $139.5 million The headline-making $139.5 million compensation package awarded to Taneja is largely stock-based and set to vest over a four-year period. At the time of the award, Tesla's stock was trading around $250. By May 2025, share prices had climbed to $342, significantly increasing the value of his equity holdings. His total 2024 earnings exceeded Satya Nadella's $79.1 million and Sundar Pichai's $10.7 million, while also shattering the previous CFO pay record of $86 million set by Nikola's CFO in 2020. With this package, Taneja has firmly established himself in a rare class of ultra-high-paid corporate leaders. Vaibhav Taneja's net worth As of May 2025, Vaibhav Taneja's estimated net worth stands at a minimum of $74.9 million, as per various sources. He currently holds 26,949 shares of Tesla (TSLA) stock and has sold approximately 156,709 shares since 2021, which brought in an estimated $65.6 million in proceeds.
