Master of Coin Departs: A Look at Zachary Kirkhorn's Impact on Tesla

Yesterday Tesla announced that their CFO, Zachary Kirkhorn would depart

Tesla

In a surprising turn of events, Tesla's CFO, Zachary Kirkhorn, known to many as the 'Master of Coin', has announced his resignation. Like any business, small or large, people come and go. But this isn't an average person at a normal company. Kirkhorn was deep in the trenches from the early days of the little start-up electric car company, and his departure leaves us only to speculate what happened and what happens now both at Tesla and for Kirkhorn.

Tesla Today and into the Future

The short answer to what happens now is Kirkhorn will stay on until the end of the year; however, his responsibilities have been handed over to Vaibhav Taneja, Tesla's Chief Accounting Officer since 2019 after joining the company in 2017 following the purchase of SolarCity.

Kirkhorn is going out with his head held high and still a true believer in Tesla's vision, as he is sticking around for four more months to help with the transition. In his LinkedIn post, which he only publicly posts about once a year, he said:

Being a part of this company is a special experience and I’m extremely proud of the work we’ve done together since I joined over 13 years ago.

Reason for Leaving is Unknown

There are no clues about what is next for Kirkhorn or why he is leaving. So, that would lead many to believe there must've been an issue at the top, Elon Musk. While that is certainly not out of the realm of possibility, both men seemed to be playing nice on social media. Kirkhorn stated on Linkedin, "I want to thank the talented, passionate, and hard-working employees at Tesla, who have accomplished things many thought not possible. I also want to thank Elon for his leadership and optimism, which has inspired so many people."

Musk posted on X.com, "I would like to thank Zach Kirkhorn for his many contributions to Tesla over the course of 13 often difficult years. Much appreciated, and best wishes for the next stage of his career."

Kirkhorn replaced Deepak Ahuja who left Tesla in 2019. Ahuja had been in the CFO role since 2010 the same year Kirhorn joined Tesla. Kirkhorn's rise through the ranks was both meteoric and pivotal. Serving in various capacities, including Senior Manager, Director, and Senior Director, he assumed the role of CFO in March 2019.

The Succession Plan

Succession at Tesla has been a concern for years, and it should be. We saw what happened when Musk bought Twitter and split his attention - the stock sank. We can only imagine what was happening behind the scenes. Still, when Musk committed to putting his attention back to Tesla, he implemented a hiring freeze and said all major personal decisions had to go through him.

Kirkhorn would've been on everyone's bingo card as a shortlist candidate to be the next CEO at Tesla, as his impact on the company's trajectory is indisputable. During his tenure, Kirkhorn played an essential role in transforming Tesla from a company fraught with losses to a consistently profitable enterprise. His expertise has been instrumental in Tesla's first quarterly profit, achieving a market valuation of over $1 trillion and strategizing the launch of products like Model 3 and the anticipated Cybertruck.

Kirkhorn's dedication to the company was undoubtedly monumental and likely far bigger than we will ever know, but he is replaceable. Just as we saw with the departure of Andrej Karpathy, the leader of the Full Self-Driving department, the company will continue. It's been a highly sought-after company for many bright minds to work at, and that kind of talent pool will help when the big players leave. But Tesla still has to come up with an answer for the succession plan for Elon Musk.

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Tesla and Uber Partner for Another Discount Off New Vehicles

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Tesla and Uber are partnering to offer a new discount for Uber drivers. The offer is similar to one that was offered earlier in the year. Uber and Tesla previously offered a $2,000 USD purchase incentive under a special Uber referral code. That offer ended in March, and Tesla is now offering a new, similar offer.

Both the previous incentive as well as this new offer are only available in the United States.

Offer Conditions

The new offer is simple: If you’re an Uber Driver, you’ll be able to get $1,000 in Tesla credits upon taking delivery and another $1,000 in Uber Cash after completing 100 rideshare trips. You’ll need to purchase either a new Model 3 or Model Y—any variant, including the Performance versions, is acceptable. The program is not available for used or demo vehicles.

For anyone interested in trying out being an Uber driver, this is also a nice way to get $2,000 off a new Tesla. While the discount is no longer a purchase incentive, you can use the $1,000 in Tesla credits towards accessories, service, Supercharging, swag, or another vehicle. The Uber Cash, on the other hand, will be paid out alongside your 100th trip.

The offer is combinable with the Military Purchase Program, but you can’t use the Tesla referral program to get $500 off. If you’ve already got referral credits, though, you can use them toward the purchase of the vehicle.

Finally, you’ll need to take delivery before the end of the year (December 31st) and complete your 100th trip before February 15, 2025.

How to Use It

To take advantage of the offer, go to Tesla’s Uber page and log in via Uber. Both companies will verify that you’re eligible for the discount. You’ll also have to be in good standing as an Uber driver - if you’re not, no discount.

It's interesting to see Tesla and Uber partner so closely, given that Tesla’s Robotaxi service will become a direct competitor to Uber. Tesla also recently launched the Trip Navigation and Battery Awareness feature for Uber drivers.

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Tesla Updates Cybertruck Range Extender Timeline and Specs

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Tesla has released updated specifications and a revised timeline for the Cybertruck’s Range Extender. Originally launched alongside the Cybertruck last year, the Range Extender offered a significant boost in range along with a notable price tag—requiring a $2,000 reservation deposit and an estimated price of $16,000.

Updated Specs

Tesla has updated the Ranger Extender's range, now increasing the vehicle’s range from 340 miles to 445 miles on the Dual Motor variant and from 320 miles to 440 miles on the Cyberbeast.

The updated specifications reduce the vehicle’s total range with the Range Extender by about 6% compared to the original specs, while the Range Extender itself sees a 20% reduction in range. This is a substantial reduction, and Tesla has yet to explain the change. It’s likely that they’ve started testing Cybertrucks with Range Extenders under EPA test conditions, which may have adjusted the initial range estimates.

Delayed Timeline

The Range Extender was originally supposed to be available for those who pre-ordered sometime in early-2025. That timeline has now been pushed back to mid-2025. However, given Tesla’s lackluster attempts at maintaining timelines, we could fully expect this timeline to continue to slip closer to 2026, but we remain hopeful that it’ll arrive on time.

Tesla has been working towards perfecting its dry-cathode process, which could also be a likely cause of the delays. Tesla may want to ship the Range Extenders as dry-cathode—it's a small batch product and one that’s easier to replace or repair than an entire truck.

Overall, the Range Extender itself is an interesting item. While it does provide a small range increase—one that’s necessary for towing—it has its fair share of demerits. It takes up a considerable amount of bed space and must be installed and uninstalled by Tesla Service. Additionally, the weight in the bed will result in a change in the center of gravity.

We’re interested to see what Tesla does with the Range Extender - we’ve only seen a few pictures of engineering samples on Tesla’s site, but it could come with considerable changes when it launches.

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