Key Tesla Execs Are Leaving Company

(RTTNews) - Tesla Motors Inc. (TSLA) is losing two of its top executives as auto manufacture prepares to reports its first-quarter earnings results after the bell on Wednesday.

Greg Reichow, Vice President of Production, and Josh Ensign, Vice President of Manufacturing, are leaving the company. The news was initially reported by CNBC.

"Greg and the team deserve a lot of credit for building an all-new manufacturing organization from the ground up and for making Model S and Model X a reality," CEO Elon Musk said in a statement. "We're confident that with the strength of the team, high-quality manufacturing at Tesla will continue."

The resignation comes at a time when the Palo Alto, California-based company is striving to boost the production of its Model X SUV and also start improving the production of its latest low-cost electric car Model 3 that rolls out in 2017. Tesla has received strong reservation of nearly 400,000 for the Model 3.

Reichow is taking a leave of absence, but would remain at Tesla until a replacement could be found, Tesla said.