Elon Musk, the Chief Executive of Tesla on Thursday announced the shift of Tesla’s headquarters from California to Austin, Texas. Tesla is building a massive and battery manufacturing complex in Austin, Texas.
Toyota Motor, HP, and Oracle have also shifted their headquarters to Texas from California. California has high taxes and living costs compared to Texas. While California and its Silicon Valley is known for great ideas and innovation, Texas is known for cheaper labour costs and less strict regulatory protocols. Elon Musk stated that, the main objective behind moving its headquarters to Texas is to increase output from its main factories by 50 percent. He mentioned that the California factory is jammed and is making people hard to afford living and houses in California.
Elon Musk, on Thursday thus announced the shift of Tesla’s headquarters from California to Austin, Texas. Tesla is building a massive and battery manufacturing complex in Austin, Texas. The decision initially opposed by many board members. Also, it was blamed of workplace harassment and discrimination by many board members. However, the final decision of the CEO aims to increase the turnover by at least 50%.