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Tesla Moving Its Headquarters Out Of California, Relocating To Texas

Tesla is moving its headquarters.

CEO Elon Musk said at the company's annual shareholder meeting they will be moving from Palo Alto, California to Austin, Texas.move is in response to the rising cost of living in the Bay Area, as Musk said it is "tough" for people to afford houses and that there is a "limit" to how big you can scale there. Musk said it would take some time even after completion before full production can be reached at the Austin plant. 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.

Back in May 2020, Musk said in a series of tweets that Tesla would move the company's headquarters to Texas or Nevada. That came after a dispute between Musk and Alameda County, California, officials over the safety of Tesla's Fremont factory due to the coronavirus pandemic, according to CNN.

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