Tesla hires former General Motors executive James Zhou as the new CFO for China

U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, becoming the first automaker to raise prices in the world’s largest automotive market in response to a U.S.-China trade war

Tesla on 25 May announced a number of key executive hires including former >General Electric and >General Motors executive James Zhou as its China CFO and Neeraj Manrao, a former >Apple executive, as director of energy manufacturing.

Zhou previously served as CFO for Asia Pacific and India for Ingersoll Rand.

"We're excited to welcome a group of such talented people as we continue to ramp >Model 3," Tesla said in a >blog post, adding it would announce more hires in the coming days.

China contributed around 17 percent of Tesla's total revenue in 2017 and the electric carmaker has said it plans to build a Gigafactory in the country.

The company on 23 May slashed up to $14,000 off its Model X in China after Beijing announced major tariff cuts for imported automobiles.

Tesla has seen the departure of several senior executives and is also flattening its management structure as it seeks to improve efficiency and clear up production bottlenecks related to its new Model 3 sedan.

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