Billionaire futurist Elon Musk announced on Thursday that Tesla, his hyper-successful electric car company, would be relocating its headquarters from California to Texas.
As The Daily Wire reports:
The Tesla CEO made the announcement at the company’s annual stockholder meeting, which took place in Austin, Texas, at Tesla’s vehicle assembly plant, which is currently under construction.
Even though the company’s headquarters is moving from Palo Alto, California, to Austin, Musk clarified that production will still be ramping up at Tesla’s California plant.
“To be clear we will be continuing to expand our activities in California,” Musk said. “Our intention is to increase output from Fremont and Giga Nevada by 50%. If you go to our Fremont factory it’s jammed.”
“It’s tough for people to afford houses, and people have to come in from far away,” Musk said. “There’s a limit to how big you can scale in the Bay Area. In Austin our factory is like five minutes from the airport, 15 minutes from Downtown.”
Musk had previously threatened to move the company out of California over the state’s draconian lockdown policies.