Tesla headquarters will move to Texas, CEO Elon Musk said


  • Annual Tesla Shareholders’ Meeting On Thursday, October 7, CEO Elon Musk confirmed that Tesla will relocate its headquarters to Austin and become the latest Silicon Valley company to switch to Texas.
  • Musk did not reveal when the move would take place, emphasizing that Tesla would not abandon California and that production at the Fremont plant would increase by 50 percent.
  • Musk pointed out the high cost of living in the Bay Area to justify the move, claiming that many employees struggled to buy a home and ended up with a long commute.

    Update 10/8/21, 4:10 pm: At the same shareholder meeting, Tesla provided a revised launch date for the next model. Cybertruck was scheduled to begin production this year, but was postponed to 2022 and mass production began in 2023. The cicada, originally scheduled for launch in 2020, has been postponed to 2023, similar to the originally announced Roadster. 2017.

    Yesterday, at Tesla’s 2021 shareholders’ meeting, CEO Elon Musk announced that he would officially relocate Tesla’s headquarters to Austin, Texas. Tesla has joined many Silicon Valley tech companies, including Hewlett Packard Enterprise and Oracle, and has moved its key base to Texas, fascinated by the state’s low tax rates and business-friendly policies. Musk did not specify when the move would take place or where the new headquarters would be located in Austin, Gigafactory site This will be the main factory in the future Cybertruck And Tesla Semi.

    This official announcement was not the first time Musk had proposed a move to Texas. At the start of the COVID-19 pandemic last year, the CEO threatened to leave California after strict state pandemic regulations made it difficult to resume production. Tesla then began contracting at the Austin Gigafactory, and soon after, Musk himself moved to Lone Star. This will follow Tesla’s headquarters, but Musk has revealed that Tesla will not completely abandon California. At a shareholders’ meeting, Musk said Tesla is aiming to expand in California and increase production at its Fremont plant by 50%.

    Unlike when he threatened to leave last year, Musk did not cite political or pandemic disagreements with California when he announced his move to Texas. Instead, he pointed out the cost of living in the Bay Area, arguing that “people have difficulty buying a home and many have to come from afar.” Musk believes that Texas business and living conditions increase the productivity of the company. The new headquarters will include “Ecological Paradise,” the Gigafactory will be built along the Colorado River, and Musk plans to create open promenades and hiking trails.

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Tesla headquarters will move to Texas, CEO Elon Musk said

Source link Tesla headquarters will move to Texas, CEO Elon Musk said

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