Tesla founder Elon Musk said they are moving the company's headquarters from the US state of California to Texas because there is more space to expand operations and it has a more affordable cost of living, APA reports.
"I'm excited to announce that we're moving our headquarters to Austin, Texas," Musk said on Thursday during a shareholder meeting.
Musk, who is also the founder of SpaceX, conducts test launches of his prototype Starship rocket in the Texas city of Boca Chica, which he has dubbed Starbase.
Musk also said Tesla will continue to expand activities in California.
“To be clear we will be continuing to expand our activities in California,” Musk said. “Our intention is to increase output from Fremont and Giga Nevada by 50%. If you go to our Fremont factory it’s jammed.”
Musk himself, after a spat with the California authorities, already moved to a suburb of Austin from Los Angeles, where he lived for more than 20 years.
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