Tesla CEO Elon Musk introduced Thursday that he is moving the firm’s headquarters from Silicon Valley to Austin, nevertheless he did not give a time frame for the move. “Just to be crystal clear, although, we will be continuing to develop our functions in California,” he said at a firm shareholder conference. “This is not a matter of Tesla leaving California.” Musk reported Tesla will increase its manufacturing unit in Fremont, California, where by additional than 10,000 staff build the Design S, X, Y, and 3 motor vehicles.
Musk has been forecasting a transfer to Texas since May 2020, when he tweeted out his displeasure at California officers for COVID-19 basic safety safeguards he mentioned had been hurting manufacturing. On Thursday, Musk recommended the go was owing to dimensions constraints at the Fremont plant and Tesla’s Palo Alto headquarters, as very well as the dearth of cost-effective housing in the Bay Place. “It really is tough for folks to manage houses and a large amount of people today have to come in from much absent,” he mentioned. “There’s a limit to how major you can scale in the Bay Spot.”
Tesla is building out a manufacturing unit in Austin — he announced the shift by using livestream from the factory flooring — and analysts mentioned that Musk has currently moved to Texas and is expanding his SpaceX procedure on the Texas Gulf coast. But other Silicon Valley giants have also lately introduced moves to Texas, together with Oracle and Hewlett Packard Enterprises.