Musk moved to Texas in 2020 to focus on his project for a battery factory in the state.
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Austin, Tx.
The news was announced by the same Elon Musk during a company annual meeting, held at the Tesla factory in Austin Texas. The CEO mentioned:
“I am excited to announce that we will be moving our headquarters to Austin, Texas… This is not a question of Tesla going off California“
However it does not California altogether as Musk plans to increase production at his main factory in California and the Nevada company 50%.
However, he accepted that the Fremont Tesla plant, California it is “stuck” and it is difficult for people to pay for a house, because they cannot be homeowners and have to move further away from the company and this increases their commuting times.
Elon Musk he has been living in for almost a year Texas
Musk himself moved to Texas in December 2020 to focus on his project for a battery factory in the state and his space mission company SpaceX, which has its launch site south of Texas, near Padre Island.
On California, Musk had several public conflicts with officials during the pandemic due to local restrictions that halted the production of his cars at the Tesla factory in California.
Texas has less stringent tax laws, does not collect personal income taxes, while California it has the highest state tax rates in the United States. Meanwhile, the governor of TexasGreg Abbott is very happy with Musk’s multi-million dollar investments and praised the decision and welcomed the tech emporium by tweeting:
“The Lone Star State is the land of opportunity and innovation. Welcome.”
Texas has less stringent tax laws, does not collect personal income taxes.
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