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Tesla's decision to move Jerome Guillen to the Tesla Heavy Trucking position is a significant strategic move that demonstrates the company's offensive into the truck industry in the coming years, Wedbush said. The new announcement comes amid active efforts to bring the Tesla Semi to market, which will happen this year.
In a research note released on March 15, Wedbush analysts commented on the changes that have occurred in the appointments of Tesla's positions, which became known early Monday morning. Analysts Daniel Ives and Strecker Backe said that Tesla's decision to transfer Jerome Guillen, who until now was president of the Automotive unit, to its heavy trucking business is a "significant strategic" move to double down on the electric car maker's semi and trucking vision over the next few years.
Analysts wrote that Guillen played a critical role in Model 3's success and supply chain improvement in Fremont, USA, and Giga Shanghai, China. At this point, he has already changed his job title on Linkedin. Wedbush maintained a $950 price target and outperform rating on the stock.
The firm also commented on the new title of Tesla CEO Elon Musk. He chose to add "Technoking of Tesla" to his role, which hints that he sees the company as more as a technology disruptor, especially with robotaxis and battery technology advancements.
The simultaneous expansion of Zack Kirkhorn's CFO title to "Coin Master" could hint that Tesla owns bitcoin, which is expected to expand next year, analysts said.
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Article edited by @SmokeyShorts, you can follow him on Twitter
About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
