Elon Musk Explains Why Tesla Is Moving to Austin
Tesla CEO Elon Musk said the company would be moving its headquarters from Palo Alto, California to Austin, Texas, a city that has recently seen a flood of tech companies and remote workers. Musk announced the news at the 2021 Tesla, Inc. Annual Meeting of Stockholders, which took place at the Tesla Austin gigafactory, rather than in the Bay Area as it did in previous years. Musk also said Tesla would be continuing to expand activities in California, increasing its output at its Fremont gigafactory by 50%, although he didn’t elaborate on how he would achieve such a ramp up in production.