Tesla is relocating its headquarters out of California to Austin, Texas, Elon Musk says
"I'm excited to announce that we're moving our headquarters to Austin, Texas," CEO Elon Musk said Thursday during a Tesla shareholders meeting.The electric car company is currently based in Palo Alto, California, near its original headquarters in San Carlos, and its first factory, in Fremont. Musk said Thursday that there is a"limit to how big you can scale in the Bay area.
Musk himself said in December that he moved to Texas, and one of his other companies, SpaceX, is developing a massive rocket system known as"Starship" in South Texas.Read MoreTesla sees jump in third quarter production Despite the move, Musk said Tesla plans to continue to"significantly" expand in California."This is not a matter of, sort of, Tesla leaving California," he said.
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