Tesla has officially moved its headquarters to Giga Texas, following the advice from a California Assemblywoman. In an 8-K filing with the United States Securities and Exchange Commission (SEC), the manufacturer stated that from December 1, 2021, Giga Texas will be its official new headquarters.
At the annual meeting of shareholders in 2021, Tesla CEO Elon Musk announced that the company will move its headquarters to Texas. In addition to the fact that this decision has a strong financial rationale, it also follows after a California legislator publicly used profanity against Musk in May 2020.
Now, this decision is officially being implemented and starting December 1, 2021, Giga Texas is the new headquarters of the manufacturer. The company wrote in its Form 8-K filed to the SEC: “On December 1, 2021, Tesla, Inc. relocated its corporate headquarters to Gigafactory Texas at 13101 Harold Green Road, Austin, Texas 78725.” California will suffer huge losses in connection with this decision.
As Musk previously explained, the headquarters relocation does not mean a complete abandonment of California, and in fact, Tesla plans to increase operations at its Fremont and Nevada factories by 50%. However, the location of the manufacturer's headquarters in Texas will have a number of big financial advantages for the company over the location in California.
Tesla is building its largest electric vehicle plant in Austin, due to begin operations this year. The facility is expected to receive all final permits by December 31, 2021. In addition, the operations of Musk's space company, SpaceX, and the tunneling company, The Boring Company, are concentrated in Texas. To this effect, the head of the company personally moved to Austin in December 2020. However, there are other reasons that prompted Tesla to move its headquarters to Texas.
In May 2020, when there was a tense situation with COVID-19, California continued to block the start of Tesla's factory, although all automakers in the United States had already begun work. While Musk selflessly tried to resist the actions of the government, trying to start the factory and provide tens of thousands of its employees with work, the authorities did not choose appropriate nor wise words in expressing their opinion about him, turning to personal insults and using obscene language.
For example, California Assemblywoman Lorena S. Gonzales, who provides strong support for fossil fuels, posted “F*ck Elon Musk” on Twitter. This behavior is unacceptable for a government official and indicates serious problems in the apparatus of the state, which needs change. It is this behavior that has become one of the reasons why the business, which brought billions of dollars in revenue to the state treasury every year, is partially moving its activities elsewhere.
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