Tesla’s (TSLA) vice-president of software engineering, David Lau, is reportedly leaving the electric vehicle (EV) maker.
Bloomberg News was the first to report that Lau is stepping down from his role at Tesla. The engineer has been with the automaker for more than 12 years and served as the lead for software engineering at the Texas-based company since 2017.
Lau led a team at Tesla that was responsible for software in Tesla’s electric vehicles, as well as cloud services and manufacturing systems. Tesla has not made any public comments on Lau’s departure or who might replace him in the senior executive position.
Tough Times
Lau was a long-time member of Tesla’s executive team and frequently appeared alongside CEO Elon Musk at public events, notably in 2023 at a showcase of the automaker’s executive team. While it is not immediately clear why Lau is leaving Tesla, his departure comes at a difficult time for the company.
TSLA stock fell 10% on April 4 amid an ongoing rout in global equity markets. So far this year, Tesla’s share price is down 40%. Even before the current market crash, Tesla was struggling with a public backlash against Musk’s role within the administration of U.S. President Donald Trump, as well as with declining sales and rising competition.
Is TSLA Stock a Buy?
The stock of Tesla currently has a consensus Hold rating among 39 Wall Street analysts. That rating is based on 16 Buy, 11 Hold, and 12 Sell recommendations issued in the last three months. The average TSLA price target of $312 implies 30.31% upside from current levels.
