Elon Musk confirmed Thursday that Tesla will be moving its headquarters from Palo Alto, California, to Austin, Texas, taking advantage of the state’s lack of personal income tax and following through on a promise he first made over a year ago in response to the Golden State’s strict coronavirus guidelines.
‘I’m excited to announce that we’re moving our headquarters to Austin, Texas,’ the tech billionaire announced to cheers and applause during the company’s shareholder meeting at its vehicle assembly plant in Austin, which is under construction and borders the Colorado River.
‘Just to be clear though, we will be continuing to expand our activities in California, so this is not a matter of Tesla leaving California,’ he noted, adding that the company plans on increasing output in California and Nevada by 50 percent.
Musk said that Tesla, which has been in Silicon Valley since 2003, has outgrown its Fremont factory.
‘It’s like we’re spam in a can here,’ he said, adding that there’s sparse affordable housing and a lot of workers have a long commute.
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Source: Daily Mail