Tesla Inc. is moving its headquarters to Austin, Texas, cementing Chief Executive Elon Musk’s commitment to the Lone Star State and adding to a handful of Silicon Valley companies that have relocated there.
Mr. Musk announced the move from Tesla’s Austin-area factory, which the company began building last year and where it held its annual shareholder meeting Thursday. He added that Tesla plans to expand its activities in California but that the company’s ability to scale up in the San Francisco Bay Area is limited.
