During the Tesla 2021 Annual Meeting of Stockholders, Elon Musk confirmed what many were suspecting had already taken place.
The CEO announced Tesla is relocating its headquarters out of Palo Alto, California and moving to Austin, Texas.
Despite the official move, Musk reiterated the company has no plans to completely leave California. In fact, Musk added that he hopes to increase production at the Fremont factory by 50% in the coming years.
The company will also maintain a number of other facilities in the state.
Tesla first hinted at this change last week when they published their Q3 production and delivery report from Austin, and not Palo Alto.
Anyone that has been watching Tesla for several years knows that the likely reason for this move stemmed from a three word tweet last year.
In May 2020 California assemblywoman Lorena Gonzalez took to Twitter to voice her displeasure with how Musk and Tesla conducted business at the onset of the COVID-19 pandemic.
Musk replied to the outburust with an ever shorter tweet – “Message received”.
Message received
— Elon Musk (@elonmusk) May 11, 2020
You can watch the Tesla 2021 Annual Meeting of Stockholders below.
