Next quarter Tesla Motors will begin production of its electric Roadster sports car with Ze'ev Drori at the helm as the company's newly named CEO.

Drori, a car enthusiast and well-known entrepreneur in Silicon Valley will assume his position on December 3 according to the company chairman Elon Musk, PayPal founder and a major Tesla Motors investor.

In 1969 Drori established Monolithic Memories, a semi-conductor chip endeavor later sold to Advanced Micro Devices in 1987. From there he went on to start a company producing automotive accessories.

In a statement issued about the appointment Musk said, "Advancing our leading electric drivetrain technology is critical, but, above all, the Tesla CEO must be someone who will ensure that the products we deliver to our customers are outstanding."

A few months ago Martin Eberhard, Tesla co-founder, vacated the CEO position to work exclusively on development and technology.

Currently there are 600 existing orders for the Tesla Roaster being constructed in partnership with the British firm Lotus Engineering. Initial deliveries, however, are running six months behind schedule due to issues with the company's transmission supplier.

The Roadster, a two-seater, has an opening price of $98,000. The vehicle has a range of 200 miles per charge from a regular household plug and will make the jump from zero to sixty in 4 seconds.