Tesla officially moves headquarters from California to Texas – NBC 5 Dallas-Fort Worth – .

Tesla officially moves headquarters from California to Texas – NBC 5 Dallas-Fort Worth – .

Tesla said it has officially moved its headquarters from Silicon Valley to a large factory under construction outside of Austin, Texas.

The company made the announcement Wednesday night in a filing with U.S. securities regulators. CEO Elon Musk said at the company’s annual meeting in October that the move was imminent.

The record indicates that the move from Palo Alto, Calif., To what Tesla calls a “Gigafactory” on Harold Green Road near Austin was made on Wednesday.

In U.S. regulatory filings late last year, Tesla said it had around 71,000 employees worldwide. Company press releases in 2020 indicate that approximately 10,000 people work at the Palo Alto headquarters and 10,000 are employed at its plant in Fremont, California.

It was not clear whether all head office employees would be forced to relocate. A message was left on Wednesday requesting comment from Tesla, which disbanded its media relations department.

Wedbush analyst Daniel Ives said in October that he expects some of Palo Alto’s 10,000 employees will not want to leave the Bay Area, but that many will, in due to Austin’s lower cost of living. He said he believes Tesla will give many the option to stay, but expects 40 to 50% to take the plunge.

“We think the upcoming tax incentives will be huge when you compare the taxes to those in California,” Ives said. “Getting employees is much cheaper and easier in Texas. “

CEO Elon Musk has hinted that he has made a decision after an argument with health officials in Alameda County, Calif., Over the reopening of the Fremont plant last year at the start of the coronavirus pandemic.

Musk said he moved his residence from California to Texas, where there is no personal income tax.


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