Tesla Inc. has agreed to lease office space from HP Inc., near its current headquarters. Electric car manufacturer in Palo Alto, In California. Tesla’s Palo Alto Expansion Elon Musk announced last week that it was moving its headquarters from Palo Alto, California to Austin, Texas.
Musk said Tesla will expand its operations in California, including a 50% increase in production for its auto plant in Fremont and its Nevada battery plant. Musk, who said he moved to Texas due to lack of space at the Fremont factory and high housing prices in California, did not elaborate on how many people would move to Texas.
The Silicon Valley for Regional Studies estimates that Tesla has 12,000 employees in the San Francisco Bay Area, including 750 in Palo Alto.
So will Texas be the new Silicon Valley? According to Elon Musk, it looks like that.
In fact, during a shareholder meeting, Tesla, a natural South African inventor and entrepreneur from the United States, announced that it was moving its headquarters from California to Austin, Texas.
So the company will leave its headquarters in Palo Alto in Silicon Valley in support of a new location in the solo star state.
The decision to leave California did not come from the blue, however, as Musk, in the early days of the Govt epidemic, refused Golden State-approved restrictions and made it harder. The car manufacturer must restart its production.
Musk had announced plans to build a large factory and campus in Austin, Texas, although he would retain the carmaker’s headquarters in Palo Alto.
Now Kasturi has just announced that he will be moving headquarters to Texas.
The businessman confirmed that Tesla will continue to invest in the Fremont plant in California.
Tesla’s Austin headquarters was not specified, but it is believed to be close to the Gigafactory Texas plant.
Kasturi, during the annual meeting, reiterates the “environmental paradise” he plans to build on the new site. According to Tesla’s CEO, the new headquarters will cover approximately 2,000 acres near the Colorado River and will be open to corporate employees as well as the public.
So it looks like Musk is embarking on a new venture, which is prompting other Silicon Fence companies to follow suit.
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