Telsa Motors chairman and chief architect Elon Musk will be taking over as CEO from Ze'ev Drori, AutoblogGreen reports, making him the company's fourth CEO in just one year. In addition, the company is laying off some people and scaling back production of the Model S for now.

In the near term, Tesla is going to focus on Roadster production and powertrain sales in order to generate some revenue and "try to get cash flow positive in the next 6-9 months," according to the report. In addition, the company is also shutting down its engineering office in Auburn Hills, MI, while it still waits for environmental approval for its new factory in San Jose. Read all about it on the company's blog.