Tesla CEO Elon Musk announced Thursday that the electric carmaker wants to move its headquarters from Silicon Valley, California, to Austin, Texas, where the company is already building an automobile assembly plant as well as a production plant. of batteries, reports Reuters.
With this decision, Tesla joins other large companies such as Oracle, HP and Toyota Motor, which have also decided to move their headquarters to Texas, California, where taxes and the cost of living are higher. Even though the Silicon Valley region is a hub for the development of new ideas and companies, Texas is renowned for cheap labor and fewer strict regulations.
“I’m pleased to announce that we will be moving our headquarters to Austin, Texas,” said Elon Musk at the annual general meeting of Tesla shareholders, an event held just inside the Texas Tesla plant. However, Elon Musk added that this decision does not mean that Tesla will leave California completely, as it intends to increase by 50% the production capacity of its main plant in Nevada. But this plant in Fremont, California, is crowded and it is difficult for employees to afford housing in California, Musk added.
The famous American entrepreneur, who since the beginning of the pandemic has repeatedly criticized the California authorities for the sanitary rules that he considers much too strict, has also moved from Los Angeles to Texas. Musk justified his decision last year by the need to be closer to the two projects that currently occupy him most of the time: the development of a rocket by his space company SpaceX in southern Tesla and the construction of a power plant. car assembly in Austin.
According to Wedbush analyst Dan Ives, Elon Musk’s grievances with the California authorities contributed to the decision to move to Texas, but this is primarily a strategic choice because Tesla plans to build the Model 3 sedans at the Austin plant. and Model Y, as well as the Cybertruck pickup and Semi truck.
Earlier this month, Tesla announced that it had delivered a record number of vehicles in the third quarter, a situation that contrasts with a car market plagued by a shortage of semiconductors.
source: Agerpres.ro, photo source: Facebook / Elon Musk
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