Elon Musk announced Thursday that Tesla will move its headquarters from California to Texas.
The Tesla CEO made the announcement at the company’s annual stockholder meeting, which took place in Austin, Texas, at Tesla’s vehicle assembly plant, which is currently under construction.
Even though the company’s headquarters is moving from Palo Alto, California, to Austin, Musk clarified that production will still be ramping up at Tesla’s California plant.
“To be clear we will be continuing to expand our activities in California,” Musk said. “Our intention is to increase output from Fremont and Giga Nevada by 50%. If you go to our Fremont factory it’s jammed.”
“It’s tough for people to afford houses, and people have to come in from far away,” Musk said. “There’s a limit to how big