Economy

Tesla moves headquarters from Silicon Valley to Texas

Elon Musk announced that it will move the headquarters of Tesla from silicon valley, in California, Austin ad, in Texas. The announcement was made during the shareholders’ meeting. However, the automaker will not leave California. In fact, Musk explained, the goal is to increase production capacity of the Giga plant in Fremont by 50%. Thus, the investments will continue. The news of the headquarters relocation was not particularly surprising, as the Tesla CEO has repeatedly expressed his intention to do so in the past.

Last year, musk He had been highly critical of the local authorities California to the restrictions in place to combat the spread of the epidemic that made the resumption of production activities within the Fremont plant a problem. Criticisms also resulted At risk of potential displacement At the factory in Nevada or actually in Texas. Although the issue was eventually resolved, the CEO’s dissatisfaction with California continued.

Late last year, Musk announced his intention to travel in person from Los Angeles to Austin. A move has two immediate benefits. the first It is economical in nature Whereas Texas has low tax rates for high personal income and the second is that Musk may be closer At the SpaceX launch site in Boca Chica, in Texas. Tax liens that also apply to corporations. In fact, Texas through the Texas Economic Development Act offers various benefits to companies that wish to establish new structures within the state. A similar move was taken for Tesla last year by Oracle and Hewlett-Packard.

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Where will Tesla build its headquarters? At the moment, Musk has not yet expressed himself on this issue. However you can easily believe that it will be indoors or nearby New Giga Factory in Texas which Tesla is preparing to run. The timing of this move was not mentioned either. So, we can’t help but wait for more data from Elon Musk on the matter.

However, Texas is becoming increasingly important to Elon Musk. Texas Gigafacrory will play a very important role in the future of Tesla. In addition, much of the activities of SpaceX and The Boring Company are concentrated in this case.

Thelma Binder

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