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Tesla will move HQ from California to Texas
Kind: ICD What's New  Organization: Department of International Cooperation  Publish Date: 2021-10-12 11:01
Elon Musk, Chief Executive Officer of Tesla, a major electric vehicle manufacturer in the stated, expressed at the Tesla Shareholders’ Meeting on October 7, 2021 that Tesla’s headquarters in Palo Alto, California will move to Austin, Texas.

Musk pointed out that it is difficult for Tesla employees to find affordable housing in California, resulting in increased commuting time for employees. There are also many restrictions on company’s expansion in the Bay Area. In addition, the Tesla factory in Austin is only a 5-minute drive from the airport and a 15-minute drive from the city center. Musk explained that Tesla still plans to increase the output of its Fremont and Nevada plants by 50%, and furthermore, Tesla is not completely leaving California. Last year, Musk said that he had moved his home from California to Texas, but he did not propose a specific timetable for the relocation of Tesla's headquarters at the meeting.

Tesla is not the first large company to move its headquarters to Texas recently. In 2020, the major technology company Oracle announced that it would move its headquarters from Silicon Valley, California to Austin, Texas, and pointed out that it would help give employees more flexibility in working locations and working hours. Hewlett Packard Enterprise (HPE) and Toyota Motor Corporation have also moved their US headquarters from California to Texas.

Musk also announced that Tesla’s vehicle deliveries this year set a new record. At the same time, he pointed out that the global supply chain disruption that caused the shortage of automotive chips is still a major challenge, and it may continue for some time in the future. Though it is expected that the most serious shortage will bounce back in 2023, Musk said.

Resource: BBC, AP, Anue

Update: 2020-04-23
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