Key Sentence:
- Tesla CEO Elon Musk announced at the automaker’s annual shareholder meeting at its new Austin facility that Tesla is moving its Texas headquarters.
Tesla, born in Silicon Valley in the early 2000s, moved its headquarters to Texas, where billion-dollar electric car maker Elon Musk already resides. However, it will continue to manufacture vehicles in the San Francisco Bay Area.
Musk announced this late Thursday at the company’s annual general meeting held at the nearly complete Texas Gigafactory near Austin. He did not give an exact time for the current factory closure in Palo Alto. Even if the move was not entirely unexpected.
Although California remains Tesla’s largest market in the United States and the largest source of vehicle production, Musk has deteriorated in the country in recent years, especially. After health officials in Alameda County, where the company’s Fremont plant is located. Restricted worker protections enforced health and safety in the early days of the Covid-19 pandemic in 2020. As a result, musk, whose views have become more liberal over the years, moved to Austin in 2020.
California Governor Gavin Newsom, Tesla owner, told CNBC in a May 2020 interview that he wasn’t concerned about Elon’s early departure after Musk initially threatened him.
But Musk is shaking even more under California’s strict rules as he warms to the allure of cheaper, less regulated Texas. After the state passed strict abortion laws and more brutal elections and gun laws in September. Texas Governor Greg Abbott said the billionaire businessman “liked the social policies” there.
“California is a cradle of innovation, the world’s fifth-largest Musk Moves Tesla Headquarters economy and home to the world’s best ideas and companies. This success is not due to our progressive Musk Moves Tesla Headquarters policies. But to them,” said Erin Mellon, a spokesperson for Newsom.
“We stand for our workers, public health, and the right to vote for women. “These are California’s core values , and we will continue to create more jobs than any other country. Outperform the country’s economic recovery and maintain the lowest COVID-19 infection rate in the nation,” he said.
Musk’s Model 3/Y is now doubling its presence in Texas with capacity growing through 2022,” said Daniel Ives. An equity analyst with Wedbush Securities, in a research release. “While Fremont will continue to play a key role for Tesla in Model 3 production. We believe that is the first step in making Austin a fundamental venue locally and globally over the next decade as recent frustration with California officials is likely to accelerate upwards.” this.”
Musk’s problems include:
- The company’s need for additional space.
- High housing prices in the Gulf region.
- Long workers’ commutes.
“We are going to create an ecological paradise here on the Colorado River. It will be great.