Elon Musk, Gavin Newsom Announce Tesla’s New Engineering Headquarters in California California Gov. Gavin Newsom and Tesla CEO Elon Musk held a joint press conference on Wednesday to announce that the electric vehicle giant’s global engineering headquarters will be based in California.
The two men addressed a gathering in front of the former Hewlett Packard headquarters in Palo Alto to reveal that Tesla’s engineering department would acquire the building in a move Musk said he was “very excited”.
Gavin Newsom Elon Musk press conference
California Gov. Gavin Newsom, left, joins Tesla CEO Elon Musk to announce that the electric vehicle giant’s global engineering headquarters will be in Palo Alto, California.
Elon Musk famously moved Tesla’s corporate headquarters from Palo Alto to Austin, Texas, in 2021, and moved from California to the Lone Star State. He previously slammed California for “overregulation, overlitigation, overtaxation”.
Gavin Newsom predicted a huge budget deficit for California. The reality was worse, the analysis finds, but Newsom and Musk celebrated together during their announcement on Wednesday.
Former HP Headquarters in California
A pedestrian walks past the then-headquarters of Hewlett-Packard Enterprise Inc. on May 22, 2016 in Palo Alto, California. (David Paul Morris / Bloomberg via Getty Images / Getty Images)
Newsom said, “It’s a point of pride — always has been — that Tesla is a California company, starting here.” Musk noted that the governor of California was “one of the first people to buy a Tesla Roadster back in the day.”
Despite moving to Texas, Musk’s business empire has maintained a significant footprint in California. Elon Musk’s $55B pay package under court review.
Tesla Factory in Fremont California
A Tesla vehicle drives past Tesla’s factory on May 11, 2020 in Fremont, California. (Reuters/Stephen Lamm/File Photo/File Photo/Reuters Photo)
Ticker Security Last Change Change %
TSLA Tesla Inc. 200.86 +3.49 +1.77%
The billionaire said during the presser that Tesla’s manufacturing plant in Fremont, California, is “the automotive plant with the highest production in North America” and is set to churn out about 600,000 cars this year.
Elon Musk also owns social media giant Twitter, which is based in San Francisco.