Created: October 07, 2021 08:49 PM
Tesla CEO Elon Musk says the electric car maker will relocate its headquarters from Palo Alto, California, to Austin, Texas.
Musk says, though, that the company will keep expanding its manufacturing capacity in the Golden State.
Musk gave no timeline for the move late Thursday when he addressed the company’s shareholders at Tesla’s annual meeting.
He stressed he plans to expand the company’s factory in Fremont, California, where Tesla’s Model S and Model X cars are built, in hopes of increasing its output by 50%.
He also touted the company’s record vehicle deliveries this year, while noting that global supply-chain disruptions that have led to a shortage of computer chips remain a challenge.
Copyright 2021 The Associated Press. All rights reserved.