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- Tesla is moving its headquarters from the Bay Area to Austin, Texas.
- This was announced by Elon Musk at Tesla’s annual general meeting.
- Tesla is building a manufacturing facility outside of Austin, and Musk now lives in Texas.
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Tesla is moving its headquarters from the Bay Area, California to Austin, Texas.
This was announced by Tesla CEO Elon Musk at Tesla’s annual general meeting on Thursday. Even before the event, there were signs of an imminent move to the Lone Star State.
Musk pointed out that although Tesla’s home base is moving from Palo Alto to Austin, Tesla is not leaving California entirely. The company continues to aim to increase production by 50% at its Fremont, California factory, he said.
“To be clear, we will continue to expand our operations in California,” he said. “So it’s not about Tesla leaving California.”
Tesla chose to move in part because it is difficult for employees to afford homes in the Bay Area and that some people have to commute from far away, Musk said.
“There’s a limit to how big you can scale in the Bay Area,” he said.
Tesla has been working at a manufacturing facility outside of Austin since the summer of 2020. Last year, Musk moved both his residence and his charitable foundation to the state. Tesla’s last two press releases in late September and early October came from Austin, fueling speculation about a move.
In May 2020, after grappling with local officials over coronavirus restrictions, Musk threatened to move all Tesla operations to Texas or Nevada.
In recent years, and particularly during the pandemic, Austin has drawn crowds of tech workers from Silicon Valley and elsewhere. Tesla will join companies like Google, Facebook and Oracle, all of which have offices in the city.
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https://www.businessinsider.com/elon-musk-tesla-headquarters-austin-texas-2021-10
