Elon Musk complains about California's regulations — but they've put billions of dollars in his pocket.
That wasn’t the case from the inside. The lone rationale Musk gave during Tesla’s annual meeting Thursday was different. There, he cited the high cost of housing and the long commutes burdening Tesla employees. In any event, the headquarters relocation wasn’t entirely news: Musk first announcedout of California in May 2020, in the teeth of his fight with Alameda County.
In the fullness of time, the threat to Fremont turned out to be a bluff. At the annual meeting Thursday, he stated that Tesla’s “intention is to actually increase output from Fremont,” along with that of the company’s battery plant in Nevada, by 50%. “Just to be clear,” he said, “we will be continuing to expand our activities in California.... This is not a matter of sort of Tesla leaving California.”
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