Tesla will relocate its headquarters to Austin, CEO Elon Musk announced at the company's annual stockholder meeting Oct. 7.

"I'm excited to announce that we are moving our headquarters to Austin, Texas," Musk said at the meeting, which was held at Giga Texas, Tesla's under-development production plant in Southeastern Travis County.

He emphasized that despite headquarters shifting from Fremont, California, to Texas, Tesla's activities in California would continue at a strong pace, with output from both Tesla's Fremont factory and its Reno, Nevada, gigafactory increasing by around 50%. However, he said the company's space for growth was limited in Fremont, and he expected even greater growth in Texas.

"There's a limit to how big you can scale it in the Bay Area," he said. "Here in Austin, our factory is like five minutes from the airport and 15 minutes from downtown. And we're going to create an ecological paradise here, surrounded by the Colorado River. It's gonna be great."

Musk said the company had made strong progress on Giga Texas, and that production out of the factory would begin before the end of 2021, with high-volume production beginning near the end of 2022. The plant will manufacture Tesla's new Cybertruck and batteries used in the automaker's vehicles. Musk said the company was also considering the production of ATVs out of Giga Texas.

Source: Community Impact Newspaper

Posted by Grossman & Jones Group on


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