Tesla HQ officially moves to Texas
Head office now located at its Austin Gigafactory
Tesla is now a Texas company, according to paperwork filed with the SEC on Wednesday.
Elon Musk and Tesla are now both officially based in Austin. (AP Photo/Matt Rourke | istock)
The automaker announced in a Form 8-K that its corporate headquarters is now located at its Gigafactory in Austin.
Elon Musk announced plans to relocate the HQ from California during October's shareholder meeting, following a year of friction with the state's government over COVID rules and a tweet from California state Assemblywoman Lorena Gonzalez that said "F--k Elon Musk,"
Tesla's corporate headquarters is now located at its Gigafactory in Austin. (REUTERS/Michele Tantussi/File Photo)
Musk also said the company was reaching the limits of expansion at its original Fremont, California, factory and that the expansive Texas facility offered more opportunity for growth.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 203.12 | -6.09 | -2.91% |
"It’s tough for people to afford houses and a lot of people have to come in from far away," Musk added of Fremont. "We’ve taken it as far as possible but…there’s a limit to how big you can scale it in the Bay Area."
Tesla's Fremont, California, facility has been stretched to its limits and includes a production line within a sprung structure many call the Tesla Tent. (Sam Hall/Bloomberg via Getty Images)
Toyota, from which Tesla originally purchased its Fremont factory, moved its headquarters from California to Plano, Texas, in 2017.
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Musk himself became a resident of Austin last December. In November, he commented on a proposal to increase police spending after a rise in homicides that followed $150 million in cuts made in 2020.
"Austin should be its city, not a San Francisco copycat," he tweeted.
FOX Business' Audrey Conklin and Jessica Chasmar contributed to this report