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Tesla Officially Moves HQ to Texas

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KEYWORDS EVs Tesla Texas

Dec. 3, 2021—Tesla on Wednesday said it had officially moved its corporate headquarters to a large factory under construction just outside of Austin, Texas.

The move was outlined in a filing submitted to U.S. security regulators, according to a report from the Associated Press. It wasn't made immediately clear whether employees at the company's former headquarters in Palo Alto, Calif., would be required to move. 

Regardless, an analyst with investment firm Wedbush Securities says up to half of employees at the old location would make the move due to Austin's lower cost of living.

“The tax incentives down the road, we believe, will be massive when you compare taxes versus California,” the analyst said. “Getting employees is much cheaper and easier in Texas.”

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