Elon Musk, Tesla CEO, attends an opening ceremony of the Tesla China-made Model Y program in Shanghai, east China, on Jan. 7, 2020.

Ding Ting | Xinhua News Agency | Getty Images

Tesla officially awarded CEO Elon Musk the title “Technoking of Tesla” in a new approval application on Monday.

Musk will retain his position as chief executive officer, Tesla said. Zach Kirkhorn, Tesla’s Chief Financial Officer, has also been given a new title: “Master of Coin”.

In a report filed with the Securities and Exchange Commission on Monday, the car company said: “As of March 15, 2021, the titles Elon Musk and Zach Kirkhorn and Master of Coin will apply, respectively.”

It is unclear what prompted the new titles. Last month, the car company announced it had bought $ 1.5 billion worth of Bitcoin.