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Tesla VP of Finance and Business Operations departs after 11-year tenure

Credit: Tesla Asia/X

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Tesla VP of Finance and Business Operations Sreela Venkataratnam has announced her departure from the electric vehicle maker. The executive posted her announcement, as well as her thoughts about her tenure at Tesla, on her personal LinkedIn page. 

In her post, the executive noted that her 11-year journey with Tesla has been nothing short of extraordinary, especially as she witnessed how the EV maker grew from a humble startup to a dominant force in the electric vehicle segment. As per Venkataratnam, when she joined the company in 2013, Tesla was a carmaker with less than $1 billion in yearly revenue, a market cap of about $4 billion, and less than 3,000 vehicle deliveries in a year. 

Now that she is leaving the company, the executive noted that Tesla become a company with annual revenues close to $100 billion, a market cap of $700 billion, and vehicle deliveries of about 1.8 million cars per year. One could criticize Tesla for a variety of things over the years, but none could deny the fact that the company has seen stellar growth since it went public in 2010

Venkataratnam shared some insights into the work that she has done at Tesla over the past years. 

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“In my strategic role, I had the privilege to contribute to the ramp-up of the Model S, Model X, Model 3, Model Y, the Cybertruck, and the construction of several new factories. I was also deeply involved in the growth of our Energy products. Our team played a pivotal role in disrupting multiple industries with innovative solutions, notably transforming the DMV process to fully automate car buying and registration in numerous states.

“We also meticulously managed cash flow to support our rapid growth and expansion. We ensured that Tesla could invest in scaling operations globally, including new markets across Europe, China, and several other regions, thereby building a truly global presence. We constructed a world-class, transformative, and lean organization by implementing new systems and streamlining operations across order management, HR, payroll, time management, and supplier management, to name a few,” she wrote. 

In her post, the former Tesla VP noted that she would be taking a break to spend some quality time with her family. She also wishes to reconnect with old friends and focus on her personal well-being. Such sentiments are quite understandable considering Tesla’s reputation for pushing its employees hard. This was hinted at in comments to Venkataratnam’s LinkedIn post from former Tesla executives such as ex-President Jerome Guillen, who noted that it was a pleasure working with the VP during “extremely challenging times.”

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla gives HW3 owners another massive update

It was an “at last” moment for HW 3 owners, who have waited for an update on the capabilities of their vehicles for some time. After CEO Elon Musk finally admitted last week that the HW3 vehicles would not be capable of unsupervised FSD, it appears Tesla is bringing a new, more transparent tone to those owners.

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tesla model 3 china
Credit: Tesla Asia/Twitter

Tesla is giving Hardware 3 vehicle owners another massive update, the second major communication the company has given to those drivers after what seemed like years of being left out to dry.

The company, which plans to launch a Full Self-Driving version 14 iteration that is compatible with these cars, which have older chips, is now planning to expand the rollout of the v14 Lite offering to other markets, it said on X.

Tesla said:

“Following future rollout of FSD V14 Lite for HW3 vehicles in the US, we plan on expanding V14 Lite to additional international markets. This update ensures that HW3 vehicle owners will continue to benefit from ongoing software updates. Since international rollout is subject to several factors (completion of technical verification, regional adaptation & relevant regulatory approvals), we can’t provide definitive dates at the moment, but will provide updates on a rolling basis.”

This announcement comes at a critical time for HW3 owners, many of whom purchased Full Self-Driving (FSD) capability years ago with promises of ongoing support and future-proofing.

HW3, introduced in 2019, powers vehicles from roughly 2019 to early 2023 models. While newer AI4 hardware has advanced rapidly, HW3 owners have felt increasingly left behind, with their last major update stuck around version 12.6 since early 2025.

It was an “at last” moment for HW 3 owners, who have waited for an update on the capabilities of their vehicles for some time. After CEO Elon Musk finally admitted last week that the HW3 vehicles would not be capable of unsupervised FSD, it appears Tesla is bringing a new, more transparent tone to those owners.

V14 Lite represents a significant optimization effort. Tesla has confirmed it will bring many core features of the full V14 release, currently running on more powerful hardware, to the more constrained HW3 platform.

Expected capabilities include improved handling of complex urban scenarios, better reverse driving, enhanced parking features, and smoother overall autonomy, albeit in a “lite” form tailored to HW3’s compute limits. Tesla’s head of Autopilot, Ashok Elluswamy, noted during the Q1 2026 earnings call that the update is targeted for late June in the U.S.

Tesla is releasing a modified version of FSD v14 for Hardware 3 owners: here’s when

The international expansion is particularly meaningful for owners in Europe, Asia, Australia, and other regions where FSD rollout has lagged due to regulatory hurdles.

Tesla emphasized that timing remains fluid, dependent on “technical verification, regional adaptation & relevant regulatory approvals.” No firm dates were provided, but the company pledged rolling updates as milestones are achieved.

This move addresses growing concerns that Tesla might abandon legacy hardware. With the recent admission that its capabilities are limited and not capable of Tesla’s grand autonomy ambitions, owners are finally in the light of truth, with more honesty being put forth as the company navigates this chapter.

For Tesla, keeping HW3 relevant strengthens customer loyalty and protects the value of older vehicles. It also buys time as the company pushes toward broader regulatory approvals and unsupervised autonomy on newer platforms.

While V14 Lite isn’t the full unsupervised experience once promised, it delivers tangible improvements and signals that HW3 owners are not being forgotten.

As Tesla continues its rapid AI and autonomy evolution, this update underscores a key principle: software can breathe new life into existing hardware. For tens of thousands of HW3 drivers worldwide, V14 Lite could mark the beginning of a renewed era of confidence in their vehicles.

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SpaceX Board has set a Mars bonus for Elon Musk

SpaceX has given Elon Musk the goal to put one million people on Mars.

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Rendering of a colonized Mars by way of SpaceX

SpaceX’s board approved a compensation plan for Elon Musk that ties his pay directly to colonizing Mars and building data centers in outer space. The details surfaced this week after Reuters reviewed SpaceX’s confidential registration statement filed with the Securities and Exchange Commission, making it one of the first concrete looks inside the company’s financials ahead of a public offering.

The pay package will reportedly award Musk 200 million super-voting restricted shares if the company hits a market valuation milestone, with the most ambitious targets going further. To unlock the full award, SpaceX would need to reach a $7.5 trillion valuation and help establish a permanent human settlement on Mars with at least one million residents. Additional incentives are tied to developing space-based computing infrastructure capable of delivering at least 100 terawatts of processing power.

SpaceX wins its first MARS contract but it comes with a catch

Long before SpaceX filed anything with the SEC, Elon Musk had already spent years framing Mars colonization as an insurance policy against human extinction. The philosophy traces back to at least 2001, when Musk first began researching Mars missions independently, before SpaceX even existed. By 2002 he had founded the company with Mars as the stated long-term goal.

In a 2017 presentation at the International Astronautical Congress, Musk outlined the specific vision that still underpins SpaceX’s architecture today. He described a self-sustaining city on Mars requiring roughly one million people to become viable, the same number now written into his compensation package.

SpaceX’s Starship, still in active development, was designed from the ground up to support the eventual colonization of Mars. Musk has stated publicly that getting the cost per ton to Mars below $100,000 is necessary to make mass migration economically feasible. Everything from Starship’s payload capacity to its full reusability targets flows from that single constraint. One can say that Musk’s latest compensation package has put a formal valuation on Mars for the first time.

SpaceX is targeting an IPO around June 28, Musk’s birthday, at a valuation of approximately $1.75 trillion. Between the Mars rover contract, the Golden Dome software group, Space Force satellite launches, and now a pay structure built around interplanetary colonization, SpaceX has become the single most consequential contractor in American space and defense. The IPO will put a public price tag on all of it for the first time.

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Tesla’s biggest rivals fights charging wait times with a modern approach

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Tesla V4 Supercharger installation ramping in Europe

Earlier this week, we wrote a story on how Tesla is launching a new Supercharging Queue system to mitigate problems between drivers when there is a wait to charge.

Rather than potentially having people end up in a physical conflict, Tesla’s approach is to determine who is next to charge based on geographic data.

Tesla launches solution to end Supercharger fights once and for all

But some companies, notably Tesla’s biggest rival in China, BYD, are taking a different approach, focusing on charging speeds rather than how they will manage delays.

BYD’s approach, especially with its tests of ultra-fast “Flash Charging” technology, is to eliminate the length of a charging session. At the heart of this strategy is BYD’s second-generation Blade Battery paired with 1,500-kW Flash Chargers.

Unveiled earlier this year, the system charges compatible vehicles from 10 percent to 70 percent state of charge in just five minutes and from 10 percent to 97 percent in nine minutes.

Real-world demonstrations on models like the Yangwang U7 and Denza Z9 GT have shown the tech delivering roughly 250 miles (400 kilometers) of range in just five minutes. This would essentially match or beat the time it takes to fill a gas tank.

Sometimes, gas pumps get congested, and there are lines. You rarely see conflicts at pumps because filling up a tank rarely takes more than five minutes.

Tesla’s fastest Supercharger build currently is the v4, which can deliver up to 325 kW for Cybertruck and 250 kW for other models, but there are “true” sites that are capable of up to 500 kW. This enables speeds of up to 1,000 miles per hour, or 1,400 miles for 350 kW-capable vehicles.

The breakthrough stems from BYD’s vertically integrated ecosystem: a new 1,000-volt architecture, 10C charging rates, and proprietary silicon-carbide chips that minimize internal resistance while protecting battery health.

The company plans to install 20,000 Flash Charging stations across China by the end of 2026, with thousands already operational and global expansion eyed for Europe and beyond later this year.

Early rollout targets popular models, including upgrades to high-volume sellers like the Seal and Sealion series, bringing five-minute charging to mainstream prices around 100,000 yuan (about $14,000).

This approach contrasts sharply with Tesla’s software solution. Tesla’s Virtual Queue uses geofencing and the app to assign turns at crowded sites, addressing driver disputes and idle time. It’s a clever fix for today’s network realities.

Yet, BYD’s philosophy is simpler: make charging so fast that waits barely exist. A five-minute stop becomes as convenient as a gas-station visit, reducing station dwell time, easing grid strain, and lowering range anxiety for long trips.

For consumers, the difference is potentially tangible. They’ll spend more time driving and less time parked. It is just another way Tesla and BYD are pushing one another to improve the overall experience of EV ownership.

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