Tesla is moving its headquarters to Austin, Texas.
Chief Executive Elon Musk announced the move during the company’s annual shareholder meeting. The CEO has relocated to the state and Tesla is currently building a factory near Austin. Tesla’s current HQ is in Palo Alto, Calif.
Last year, Musk disagreed with officials in California over certain coronavirus restrictions that temporarily shut down Tesla’s factory. He signaled at that time that the company may move to Texas. Tesla also released two press releases recently with a dateline of Austin rather than Palo Alto.
Construction at Giga Texas began in July 2020. Production of the Model Y at the factory is expected to begin by the end of the year and ramp up in 2022. The factory will also produce the Cybertruck, which Musk said will not be available until the end of next year. Volume production for Cybertruck will not kick in until 2023.
Musk said Tesla will explore a new factory next year and possibly make a decision in 2023.