Tesla CEO Elon Musk announced Thursday that he is moving the company's headquarters from Silicon Valley to Austin, though he did not give a time frame for the move. "Just to be clear, though, we will be continuing to expand our activities in California," he said at a company shareholder meeting. "This is not a matter of Tesla leaving California." Musk said Tesla will expand its factory in Fremont, California, where more than 10,000 workers build the Model S, X, Y, and 3 vehicles.
Musk has been forecasting a move to Texas since May 2020, when he tweeted out his displeasure at California officials for COVID-19 safety precautions he said were hurting production. On Thursday, Musk suggested the move was due to size constraints at the Fremont plant and Tesla's Palo Alto headquarters, as well as the dearth of affordable housing in the Bay Area. "It's tough for people to afford houses and a lot of people have to come in from far away," he said. "There's a limit to how big you can scale in the Bay Area."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Cautious optimism surrounds plans for the world's first nuclear fusion power plantTalking Point Some in the industry feel that the plant will face many challenges
-
Explore new worlds this winter at these 6 enlightening museum exhibitionsThe Week Recommends Discover the estrados of Spain and the connection between art and chess in various African countries
-
2024: the year of Black country artistsIn the Spotlight Beyoncé debuted 'Cowboy Carter' at the top of the country charts, shining a spotlight on artists like Shaboozey
-
Judges block $25B Kroger-Albertsons mergerSpeed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
-
Rupert Murdoch loses 'Succession' court battleSpeed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
-
Bitcoin surges above $100k in post-election rallySpeed Read Investors are betting that the incoming Trump administration will embrace crypto
-
Enron mystery: 'sick joke' or serious revival?Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
-
US charges Indian tycoon with bribery, fraudSpeed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
-
What's next for electric vehicles under Trump?Today's Big Question And what does that mean for Tesla's Elon Musk?
-
Boeing machinists approve contract, end strikeSpeed Read The company's largest union approved the new contract offer, ending a seven-week strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
