If Elon Musk has his way,Tesla’s company headquarters will be out of California – Idaho Reporter

Automotive, NASDAQ

If Elon Musk has his way,Tesla’s company headquarters will be out of California

Elon Musk wants to liberate Tesla HQ from the corona restrictions. He plans to move the electric car manufacturer’s headquarters to another U.S. state due to ongoing restrictions in California. He also threatens to withdraw production out of California. Tesla (NASDAQ: TSLA) will move headquarters and upcoming future projects to Texas or Nevada “immediately”, Musk wrote on Saturday on Twitter. “Honestly, that’s the icing on the cake,” he wrote of the Alameda district of San Francisco, which would prevent the Tesla factory there from reopening before June.

 

Following his Twitter outburst,Tesla attorneys sent out a copy of the lawsuit. Continued production at the Fremont site would depend on how the company would be treated there in the future, he continued. Tesla is the last remaining automaker in California and is also an important exporter, he wrote. Tesla employs approximately 20,000 people around the Palo Alto headquarters in the San Francisco Bay area, around half of whom work in the factory in the city of Fremont.

 

Musk is known for causing a stir and confusion with bizarre and opinionated appearances on Twitter. Just last week, he made a series of tweets that made Tesla’s market value drop by billions of dollars. In 2018, Musk even got into trouble with the tweets from the SEC. According to an agreement with the SEC, he actually has to have the company approve relevant tweets in advance.

Musk had only called the Corona editions in California “fascist” at the end of April. His opinion was that the measures would “lock people in their homes and violate their constitutional rights,” he said. He restricted whoever wanted to stay at home should not be forced to go outside. “But to tell people that they cannot leave their house, that they will be arrested, that is fascist, that it is not democratic, that it is not freedom.”

The electric car manufacturer, founded in 2003, had the Toyota plant in Fremont in 2010 Acquired for only $ 42 million, but has now invested billions of dollars. It is currently the only factory where Tesla can manufacture the S, X and Y models. According to experts, it is therefore difficult to move production quickly. Tesla now has other factories, but these are primarily used to produce batteries, but it also plans to expand car production in the future.

For some time now, the very new plant in Shanghai has been producing cars in addition to battery cells. Because of the corona pandemic, production stopped there between late January and mid-April.

In Germany, Tesla plans to build a factory in Grünheide, southeast of Berlin – where cars and batteries are to be manufactured. A design and development center is also to be built in nearby Berlin.

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