Tesla CEO Elon Musk announced Thursday that the company’s headquarters will be moving from Fremont, California, to Austin, Texas.
“I’m excited to announce that we’re moving our headquarters to Austin, Texas,” Musk said during the electric vehicle maker’s 2021 annual stockholders meeting from Tesla’s Gigafactory in Austin, drawing wild applause from the crowd present.
“To be clear here, we will be continuing to expand our activities in California,” he explained. “This is not a matter of Tesla leaving California. Our intention is to actually increase output from Fremont and from Giga[factory] Nevada by 50%.”
This is a developing story and will be updated.