Elon Musk says Tesla will move HQ from California to Texas

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Tesla says it will relocate its headquarters from Palo Alto, California, to Austin, Texas, though the electric car maker will keep expanding its manufacturing capacity in the Golden State.

CEO Elon Musk gave no timeline for the move late Thursday when he addressed the company's shareholders at Tesla's annual meeting.

Musk stressed he plans to expand the company's factory in Fremont, California, where Tesla's Model S and Model X cars are built, in hopes of increasing its output by 50%. “It looks like we have a good chance of maintaining that into the future,” he said. “Basically, if we get the chips, we can do it.”

Source: Energy Industry News (energyindustrynews.net)

 

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