Tesla’s headquarters have officially moved from Palo Alto, California to Austin, Texas, according to CEO Elon Musk, who announced the relocation at the company’s 2021 annual shareholder meeting. Musk moved to Austin in 2020 from Los Angeles, where he had spent the previous two decades.
- Relocation: Tesla CEO Elon Musk said at the company’s shareholder meeting on Thursday that the company’s headquarters will be relocated from Palo Alto, California, to Austin, Texas. The meeting took place outside of Austin, near the city’s airport, at Tesla’s vehicle assembly factory, which is now under development on land that borders the Colorado River.
- Intention: Regardless of the headquarters relocation, the company intends to grow output at its California operation. “To be clear,” Musk stated, “we will continue to increase our efforts in California.” “Our goal is to double Fremont and Giga Nevada’s output by 50 percent.” Our Fremont factory is completely packed.”
- Facility: According to Musk, it takes Tesla less time to develop a facility than it does to attain high-volume production. Tesla’s Shanghai facility, for example, was completed in 11 months but required a year to reach high-volume production. Tesla’s new plant near Austin, he predicts, will follow Shanghai’s lead.
- Vocal: Musk has been vocal about his discontent with California for some time. In an expletive-laced outburst during a Tesla earnings call in April 2020, Musk slammed California government officials, calling their interim Covid-related health orders “fascist.”
- Benefits: Musk moved to Austin from Los Angeles, where he had lived for the previous two decades. Musk, who is also the CEO of SpaceX, was able to lower his personal tax burden and move closer to a SpaceX launch facility in Boca Chica, Texas, as a result of his actions.