Musk: Tesla will move its headquarters to Texas

Source: CNN

“‘I’m excited to announce that we’re moving our headquarters to Austin, Texas,’ CEO Elon Musk said Thursday during a Tesla shareholders meeting. The electric car company is currently based in Palo Alto, California, near its original headquarters in San Carlos, and its first factory, in Fremont. Musk said Thursday that there is a ‘limit to how big you can scale in the Bay area.’ He cited housing affordability and the long commutes it can create as hurdles for its current location, and said the Austin factory is five minutes from the airport and 15 minutes from downtown. The median home price in Palo Alto is $3.3 million, according to, whereas the median home price in Austin is $588,000. Musk himself said in December that he moved to Texas, and one of his other companies, SpaceX, is developing a massive rocket system known as ‘Starship’ in South Texas.” (10/07/21)