Elon Musk said life there is cheaper.

Elon Musk, even at the height of the crown restrictions in California, threatened to move Tesla to Texas. The change of registered office is now official. “I am pleased to announce that we are moving our headquarters to Austin, Texas,” Reuters the meaning Musk told the news to workers at an annual meeting at the Tesla plant in Texas.

So one of the famous companies will be based in California in the future rather than in Palo Alto, California, where Austin is currently building a car and battery plant.

Of course, Tesla won’t be the first automaker to move its headquarters from California. Both Nissan and Toyota left the Golden State with lower taxes. Nissan moved to Franklin, Tennessee, while Toyota moved to Plano, Texas.

Musk cited the growing housing crisis in the western state as the reason. “It’s hard for people to buy a home in California,” he said. He also stated that it was becoming increasingly difficult to expand offices located in the Bay Area, California.

Musk reassured those who remained in California that the move was not related to Tesla’s departure from California. The Freemonti plant will be retained and even plans to increase production at Tesla’s plants in California and Nevada by 50 percent.

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