You are using an older browser version. Please use a supported version for the best MSN experience.

Tesla Makes It Official, Marking Headquarters Move to Texas

Bloomberg logoBloomberg 12/1/2021 Dana Hull
Elon's Expanding Empire In Texas © Bloomberg Elon's Expanding Empire In Texas

(Bloomberg) -- Tesla Inc. has officially said goodbye to California and howdy to Texas, saying in a U.S. Securities and Exchange Commission filing Wednesday that the corporate headquarters are now at Gigafactory Texas in Austin.

Most Read from Bloomberg

Chief Executive Officer Elon Musk, who clashed with Alameda County, California, public health officials during the early days of the coronavirus pandemic, announced the plan at Tesla’s annual shareholder meeting in October without giving a timeline. Tesla’s Austin factory, which will make the Model Y and the forthcoming Cybertruck, is nearing completion.

Musk had said the dearth of affordable housing in the San Francisco Bay Area and long commute times were among factors limiting Tesla’s ability to expand. But Tesla will maintain a strong foothold in the region and is building out a new factory in the Central Valley city of Lathrop for the Megapack, its utility-scale battery product.


Video: BlackRock's Koesterich Says Sectors Matter in 2022 (Bloomberg)

The billionaire moved to Texas in 2020 and spends much of his time near Brownsville, where his SpaceX is building Starship, its next generation rocketship designed to take humans to the Moon and Mars. 

Musk is the world’s richest person with a worth of about $287 billion, according to the Bloomberg Billionaires Index. Unlike California, Texas is one the few states that levies no personal income tax.

(Updates with details on Texas factory production and California operations)

Most Read from Bloomberg Businessweek

©2021 Bloomberg L.P.

AdChoices
AdChoices
image beaconimage beaconimage beacon