Texas is a strange place to put an electric-power champion these days, but Tesla boss Elon Musk just unveiled plans to relocate the company’s headquarters to Austin. The reasons provided don’t add up, says AntonyMCurrie
These dubious policies are at odds with Tesla’s ambition. It already has faced criticism over how it treats workers, including losing a racism lawsuit
this week. And it has long been blighted by weak corporate controls. Moving to Texas further mars Musk’s environmental, social and governance credentials, giving investors increasingly focused on such matters even more reasons to think twice.- Tesla Chief Executive Elon Musk said on Oct. 7 said the electric-car maker will move its headquarters to Austin from Palo Alto, California.
- Tesla has been based in California since it was founded in 2003 by Martin Eberhard and Marc Tarpenning.Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
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