Key Tesla Executive Behind Shanghai Gigafactory Leaves Company After 5 Years

Tesla Inc. TSLA Vice President of Business Development Robin Ren has departed the company, Electrek reported late Tuesday.

What Happened

Ren had been with Tesla since June 2015, according to his LinkedIn profile. He confirmed his departure from the electric vehicles maker on LinkedIn, but didn't say whether he has joined another company.

The Stanford graduate had served as the Vice President for Asia Pacific and Vice President of Worldwide Sales at Tesla before taking over the business development role in May last year.

Why It Matters

The Stanford graduate was at the forefront of Tesla's efforts in starting a manufacturing facility in China.

Ren, along with Tesla Chief Executive Officer Elon Musk, also led the automaker's negotiations for loans from state-owned Chinese banks at better than market rates for its Shanghai gigafactory late last year.

"[Ren] was born and raised in Shanghai and has been...sort of instrumental in establishing the China factory and making sure that gets done right and having a great relationship with the government," Musk said in an earnings call with investors in August 2018, as reported by The Motley Fool at the time.

Tesla Price Action

Tesla shares closed nearly 1% lower at $940.67 on Tuesday and dropped another 0.4% lower in the after-hours session at $936.99.