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- Tesla could move its headquarters from Palo Alto, California to Austin, Texas.
- The company’s shareholders’ meeting will take place there on Thursday.
- Tesla CEO Elon Musk moved to Texas last year and relocated his foundation there.
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Tesla could move from its longtime home in Silicon Valley to Austin, Texas, a city that has attracted a flurry of tech companies and teleworkers for the past year and a half.
The automaker’s annual shareholders’ meeting on Thursday will not take place in the Bay Area, as usual, but in the Texan capital. It’s the latest sign that Tesla CEO Elon Musk, after moving much of his life and business to the Lone Star State, may also move Tesla headquarters there.
Tesla didn’t respond to Insider’s request for comment.
After a very public dispute with local health officials over coronavirus restrictions that forced Tesla’s Fremont factory to temporarily close, Musk said in May 2020 that he would move Tesla’s “headquarters and future programs to Texas, Nevada” immediately. Tesla is currently headquartered in Palo Alto, California.
This summer, Tesla selected Austin as the location for its next U.S. manufacturing facility, which is under construction and scheduled to begin large-scale building of Model Y cars in 2022. Tesla says it will eventually build the Cybertruck pickup and semi-trailer there.
In October 2020, Musk moved his charitable foundation to Texas, Bloomberg reported for the first time. And in December, Musk announced he had moved to the state and later said he lived in a $ 50,000 house in Boca Chica, Texas, the location of SpaceX’s launch site. (Musk is also the founder and CEO of SpaceX.)
Tesla’s two most recent press releases in late September and early October came from Austin rather than Palo Alto, which may suggest an official California exit is imminent or has already occurred.
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