Elon Musk, the CEO of Tesla, announced on Thursday that Tesla is moving its headquarters from Silicon Valley to Austin, Texas, where it has been building a new plant for just over a year.
The company’s electric vehicle factory in Fremont, California, will continue to operate, and Musk plans to try to raise production there by 50%.
He announced that Tesla’s headquarters will no longer be in the state where its automobiles are most popular; instead, It will be in a place where it is illegal for Tesla to directly sell its cars directly to consumers.
He had previously threatened to move Tesla’s entire operations out of the state in 2020, citing his opposition to the state’s use of “shelter-in-place” measures during the coronavirus pandemic.
The move comes at a time when many firms are feeling pressured to leave the state, following the passage of an anti-abortion bill.
Texas Governor Greg Abbott cited Tesla as an example to try to show this was not a trend.
This report’s information was first seen on Bloomberg; to read more, click this link.