Elon Musk Announces Tesla Will Move Headquarters to Texas

October 8, 2021 by Reece Nations
Elon Musk Announces Tesla Will Move Headquarters to Texas
Tesla CEO Elon Musk has announced he's relocating the company's headquarters from Palo Alto, Calif., to Austin, Texas, though the electric car maker will keep expanding its manufacturing capacity in the Golden State. (AP Photo/Jae C. Hong)

AUSTIN, Texas — Elon Musk, CEO and product architect of Tesla, Inc., announced Thursday during an annual meeting of stockholders that the company will move its headquarters from Palo Alto, California, to Austin, Texas.

Musk is following through on his previous threats to move the company to Texas in response to California’s coronavirus lockdown orders that forced Tesla to temporarily halt production at its factory in Fremont. Musk also announced that Tesla will expand its production at the 5.3 million square foot Fremont factory, where the Model S, Model X and Model 3 vehicles are built.

At the event, Robyn Denholm, chair of Tesla’s board of directors, said that since Sept. 2020 the company has delivered over 800,000 vehicles, started new production lines in Shanghai, China, and initiated pilot production of its own in-house battery cells. Further, Denholm said the company has also undertaken the construction of two new “giga-factories” — one in Berlin and the other in Austin.

“But maybe most importantly, our mission of accelerating the world’s transition to sustainable energy remains at the center of what we do,” Denholm said to the company’s shareholders at the event. “Over the last 12 months Tesla has continued to help shift the public perception of electric vehicles, and it wasn’t too long ago that many people were still questioning the future of EVs. I would say that today that’s no longer the case.”

There is “no doubt” that the transportation industry is turning electric, Denholm said, as evidenced by the widespread visibility of Teslas and other EVs across the country. In the third quarter of this year, Tesla produced a total of 237,823 vehicles and delivered 241,300 of its vehicles to customers, according to a press release.

Musk had announced publicly last year that he had moved his residence to Austin in order to oversee the construction of the Austin plant as well as be closer to the Boca Chica launch site of his aerospace company, SpaceX, in south Texas. While speaking at a conference hosted by The Wall Street Journal in December 2020, Musk said California has become less accommodating to start-ups and entrepreneurs.

During the meeting, Musk noted that Tesla’s production had been hindered by supplier challenges, the most notable of which is a shortage of computer chips the vehicles rely on to run their high-tech operating systems. Regardless, Musk said he was confident that Tesla’s sales volume would remain high until the shortage was alleviated.

“This is the fundamental way to think of the value of Tesla. If we are able to accelerate sustainable energy by more years – that is good,”  Musk said during the meetingReece can be reached at [email protected].

A+
a-
  • California
  • electric vehicles
  • Elon Musk
  • Tesla Motors
  • Texas
  • In The News

    Health

    Voting

    Business

    February 16, 2024
    by Dan McCue
    Trump Ordered to Pay $355M for Fraud in New York Civil Trial

    WASHINGTON — Former President Donald Trump must pay a penalty of $355 million for fraudulently overstating his wealth, a penalty... Read More

    WASHINGTON — Former President Donald Trump must pay a penalty of $355 million for fraudulently overstating his wealth, a penalty that could effectively leave him with little, if any, actual cash on hand. The ruling by Manhattan Supreme Court Justice Arthur Engoron also imposes a three-year... Read More

    Potential $50B Southwestern Energy Giant Emerges as Diamondback Seeks to Buy Rival Endeavor

    AP — Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern... Read More

    AP — Diamondback Energy will attempt to buy rival Endeavor Energy Resources to create an energy giant in the Southwestern United States worth more than $50 billion. Growing confidence in an economic recovery, particularly in the U.S., has driven massive deals in the energy sector in... Read More

    Biden Administration Announces $5B Commitment for Research and Development of Computer Chips

    WASHINGTON (AP) — The Biden administration on Friday announced the investment of $5 billion in a newly established public-private consortium... Read More

    WASHINGTON (AP) — The Biden administration on Friday announced the investment of $5 billion in a newly established public-private consortium aimed at supporting research and development in advanced computer chips. The National Semiconductor Technology Center is being funded through the CHIPS and Science Act. That 2022 law... Read More

    January 29, 2024
    by Dan McCue
    Recent Survey Suggests Anti-Wokism Going Against the Grain of Voters

    WASHINGTON — While there are big differences in how Republicans and Democrats view corporate diversity, equity and inclusion initiatives, voters... Read More

    WASHINGTON — While there are big differences in how Republicans and Democrats view corporate diversity, equity and inclusion initiatives, voters of all political stripes take a dim view of government meddling in such programs, a recent survey found. The study, “Navigating DEI,” was conducted and released... Read More

    January 29, 2024
    by Tom Ramstack
    Walmart Sued in Class Action Over Alleged Pricing Deception

    WASHINGTON — Walmart is being sued over allegations it charges higher prices for products at the checkout stands than it... Read More

    WASHINGTON — Walmart is being sued over allegations it charges higher prices for products at the checkout stands than it advertises on its shelves. The consumer class action lawsuits started in Chicago, Illinois, but are spreading, most recently to a court filing last week in Washington,... Read More

    Disney Requests Delay in DeSantis Appointees' Lawsuit, as Worker Describes Distracted District

    ORLANDO, Fla. (AP) — Disney this week requested a second delay in a state court case involving its legal battle with Gov.... Read More

    ORLANDO, Fla. (AP) — Disney this week requested a second delay in a state court case involving its legal battle with Gov. Ron DeSantis' appointees over who controls Walt Disney World's governing district, as the company accused them and the governor's office of stonewalling requests for documents that... Read More

    News From The Well
    scroll top