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Tesla moves headquarters from California to Texas
https://www.cnbc.com/2021/10/07/tesla-moves-its-headquarters-from-california-to-texas.html
Published Thu, Oct 7 20216:19 PM EDT Updated 16 Min Ago
Tesla is moving its headquarters from Palo Alto, California, to Austin, Texas, CEO Elon Musk announced at the company’s shareholder meeting on Thursday.
The meeting took place at Tesla’s vehicle assembly plant under construction outside of Austin on a property that borders the Colorado River, near the city’s airport.
However, the company plans to increase production in its California plant regardless of the headquarters move.
“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.”
But, he added, “It’s tough for people to afford houses, and people have to come in from far away....There’s a limit to how big you can scale in the Bay Area.”
Regarding the plant underway in Austin, he noted that it would take some time to reach full production even after it’s completed.
It takes Tesla less time to build a factory than to reach high-volume production, Musk said. For example, Tesla’s Shanghai plant was built in 11 months, but took a year to reach high-volume production. He expects Tesla’s new plant near Austin will follow Shanghai’s example.
Musk’s growing dissatisfaction with California has been apparent for some time. In April 2020, on a Tesla earnings call, Musk lashed out at California government officials calling their temporary Covid-related health orders “fascist” in an expletive-laced rant.
Later, Musk personally relocated to the Austin area from Los Angeles, where he had lived for two decades.
https://www.cnbc.com/2021/10/07/tesla-moves-its-headquarters-from-california-to-texas.html
Published Thu, Oct 7 20216:19 PM EDT Updated 16 Min Ago
Tesla is moving its headquarters from Palo Alto, California, to Austin, Texas, CEO Elon Musk announced at the company’s shareholder meeting on Thursday.
The meeting took place at Tesla’s vehicle assembly plant under construction outside of Austin on a property that borders the Colorado River, near the city’s airport.
However, the company plans to increase production in its California plant regardless of the headquarters move.
“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.”
But, he added, “It’s tough for people to afford houses, and people have to come in from far away....There’s a limit to how big you can scale in the Bay Area.”
Regarding the plant underway in Austin, he noted that it would take some time to reach full production even after it’s completed.
It takes Tesla less time to build a factory than to reach high-volume production, Musk said. For example, Tesla’s Shanghai plant was built in 11 months, but took a year to reach high-volume production. He expects Tesla’s new plant near Austin will follow Shanghai’s example.
Musk’s growing dissatisfaction with California has been apparent for some time. In April 2020, on a Tesla earnings call, Musk lashed out at California government officials calling their temporary Covid-related health orders “fascist” in an expletive-laced rant.
Later, Musk personally relocated to the Austin area from Los Angeles, where he had lived for two decades.
