Business Standard

Tesla HQ moving to Texas after Musk’s California feud


Tesla will move its headquarte­rs to Austin, Texas, following through on a threat Elon Musk made last year when tensions between the billionair­e and California boiled over months into the pandemic. The chief executive officer announced the plan Thursday during Tesla’s annual shareholde­r meeting at the company’s factory in Austin. The dearth of affordable housing and long commute times are among factors limiting how much the company can expand in the San Francisco Bay area it’s called home for 18 years, he said. While Palo Alto will no longer be Tesla’s home base, he said the carmaker hopes to increase output in Fremont by 50 per cent.

Newspapers in English

Newspapers from India