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Tesla Inc. is doubling down on its presence in California by establishing a global engineering headquarters in Palo Alto. The move comes after CEO Elon Musk moved his company’s headquarters from Silicon Valley to Texas in 2021, citing limited scalability in the Bay Area.
Despite the move, more than a third of Tesla’s global workforce is in California, with many working in Fremont, home of the company’s first car factory. Musk’s assertion that Tesla will continue to invest in California was a big change from his earlier comments.As wall street journal Musk has in the past likened Golden State to a winning sports team, noting that it’s riding on its reputation for success. Musk said states “tend to be a little complacent” and that “when you qualify a little, you can’t win championships anymore.”
Musk was more optimistic Wednesday night when Gov. Gavin Newsom attended, promising that Tesla would “build the future here” at an event in Palo Alto.
Tesla is unaffected by the job cuts that have hit other California tech giants. In 2022, he laid off more than 200 people by closing his San Mateo office with staff working on his Autopilot, Tesla’s advanced driver assistance system.
Tesla aims to sell 20 million cars a year by the end of the decade. Additionally, the company recently unveiled a potential expansion of its Austin, Texas plant worth $775 million.
Musk expressed optimism in Palo Alto, saying Tesla “builds the future here.” Despite his previous criticisms, he recognized the importance of California to the company, saying Tesla still employs about 48,000 Californians and the state remains an integral part of the company’s growth. said it would.