facebook linkedin twitter

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]hewellnews.com.

A+
a-

In The News

Health

Voting

Business

May 13, 2022
by Dan McCue
Baby Formula Maker Extends WIC Rebates to Ease Shortage Crisis

WASHINGTON — Abbott Nutrition on Friday committed to continue providing rebates in states with which it holds Special Supplemental Nutrition... Read More

WASHINGTON — Abbott Nutrition on Friday committed to continue providing rebates in states with which it holds Special Supplemental Nutrition Program for Women, Infants, and Children contracts through August 31 in a bid to ease the ongoing baby formula crisis. The decision means that families that... Read More

May 12, 2022
by Dan McCue
White House Accelerates Response to Baby Formula Shortage

WASHINGTON — President Joe Biden on Thursday directed his administration to “work urgently” to respond to the major baby formula... Read More

WASHINGTON — President Joe Biden on Thursday directed his administration to “work urgently” to respond to the major baby formula shortage that has forced families across the United States to rely on others with leftover supplies to swap or sell to get the nutrition they need... Read More

May 10, 2022
by Reece Nations
Starbucks Faces Bitter Brew of Federal Labor Complaints

BUFFALO, N.Y. — The regional director for the National Labor Relations Board in Buffalo, New York, filed a complaint last... Read More

BUFFALO, N.Y. — The regional director for the National Labor Relations Board in Buffalo, New York, filed a complaint last week against Starbucks alleging the coffeehouse company committed a litany of federal labor law violations. Starbucks Workers United alleges the company promised employees increased benefits and... Read More

May 5, 2022
by Dan McCue
Boeing to Relocate Headquarters to Arlington

CHICAGO — Boeing revealed today that it is relocating its headquarters from Chicago to Arlington, Virginia, and will establish a... Read More

CHICAGO — Boeing revealed today that it is relocating its headquarters from Chicago to Arlington, Virginia, and will establish a major research and technology hub at its new location. “We are excited to build our foundation here in Northern Virginia,” said Boeing chief executive Dave Calhoun... Read More

Wall Street Slumps, Erasing a Big Rally From a Day Earlier

NEW YORK (AP) — Stocks are slumping on Wall Street, erasing a rally from a day earlier, as markets assess... Read More

NEW YORK (AP) — Stocks are slumping on Wall Street, erasing a rally from a day earlier, as markets assess the looming fallout from the Federal Reserve’s stepped-up fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by half a percentage point as part of... Read More

May 4, 2022
by Kate Michael
Florida House’s OJ Day Brings Politicos, Protestors Together Behind Supreme Court

WASHINGTON — Politicians, Supreme Court protestors, and passersby were all spotted squeezing some Florida sunshine into their day, enjoying free... Read More

WASHINGTON — Politicians, Supreme Court protestors, and passersby were all spotted squeezing some Florida sunshine into their day, enjoying free orange juice offered by Florida House’s annual Orange Juice Day giveaway on Capitol Hill Wednesday morning. Each year on May 4 — National Orange Juice Day... Read More

News From The Well
scroll top