Tesla Headquarters Officially Moves To Texas

Austin TX

02 December, 2021

9:33 AM

Description

AUSTIN, TX — Tesla has officially moved its corporate headquarters from Silicon Valley to its large factory under construction outside of Austin, the Associated Press reports. The company made the announcement late Wednesday in a filing with U.S. securities regulators marking Tesla Gigafactory Texas at 13101 Harold Green Road in Austin as its new headquarters. The official move to Texas comes after CEO Elon Musk had said at the company's annual meeting in October that the move was coming. Live in Austin? Click here to subscribe to our free breaking news alerts delivered to your inbox and mobile devices. Follow us on Facebook and Twitter, and download our free mobile app on Android or iPhone. In U.S. regulatory filings at the end of last year, Tesla said it had about 71,000 employees worldwide. Company news releases in 2020 said about 10,000 work at the Palo Alto headquarters and 10,000 are employed at its factory in Fremont, California. It wasn't clear if all of the headquarters employees would be required to move. A message was left Wednesday seeking comment from Tesla, which has disbanded its media relations department. The Tesla Gigafactory Texas at 13101 Harold Green Road in Austin was announced as the new headquarters for Tesla on Wednesday. (Photo by Meagan Falcon/Patch) Wedbush analyst Daniel Ives said in October that he expects some of the 10,000 employees in Palo Alto won't want to leave the Bay Area, but says a large number will, due to Austin's lower cost of living. He said he thinks Tesla will give many the option of staying, but expects 40 percent to 50 percent to make the move. BREAKING: Tesla has just filed an 8-K with the SEC. Tesla says: On December 1, 2021, Tesla, Inc. relocated its corporate headquarters to Gigafactory Texas at 13101 Harold Green Road, Austin, Texas 78725. IT'S OFFICIAL BABY!!!!! $TSLA @elonmusk pic.twitter.com/brAyYAxysi— Sawyer Merritt 📈🚀 (@SawyerMerritt) December 1, 2021 "The tax incentives down the road, we believe, will be massive when you compare taxes versus California," Ives said. "Getting employees is much cheaper and easier in Texas." CEO Elon Musk hinted at making a move ever since a spat with Alameda County, California, health officials over reopening the factory in Fremont last year at the start of the coronavirus pandemic. Musk has said that he has moved his residence from California to Texas, where there is no state personal income tax. The Associated Press contributed to this report. MORE TESLA NEWS: Tesla Starts ESL Program After Austin Group's Hiring Concerns Elon Musk Never Told His Tesla Team He Was Planning TX Move Tesla Created 5000 New Jobs In Austin In 2021 So Far