Tesla Moving Headquarters to Texas
Oct. 11, 2021—Tesla CEO Elon Musk said during a Thursday meeting with shareholders the EV manufacturer will move its headquarters to Austin, Texas, in the near future.
The move comes as the company nears completion a new production facility in Austin that will make the Model Y and eventually the Cybertruck, according to The Detroit News. Tesla has been headquartered in Palo Alto, Calif., since its creation in 2003.
Musk moved his private foundation to Texas at the end of 2020, and his other venture, SpaceX, also has a facility in the state. Texas also has no personal income tax, whereas California has the highest level of income tax in the nation for wealthy residents.