BREAKING: Musk announces he’s moving Tesla Headquarters from California to Austin, Texas

Elon Musk is moving Tesla Headquarters from California to Austin, Texas

Musk made the announcement at the 2021 Annual Shareholders meeting.
FILE PHOTO: The TESLA logo is seen outside a dealership in the Brooklyn borough of New York City, U.S., April 26, 2021. REUTERS/Shannon Stapleton/File Photo
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“We’re taking it as far as possible, but there’s a limit how big you can scale it in the Bay Area,” Musk said. “Just to be clear, though, we will be continuing to expand our activities in California. This is not a matter of leaving California.”

During the announcement, Musk also explained that the company is not completely withdrawing from California.
Per the Guardian “Texas may appeal to one of the world’s richest men for its more lenient tax laws. It does not collect personal income tax, while California has some of the highest state tax rates in the US.”