Tesla vehicles outside the companies facilities in Fremont, Calif.
Photo: Dylan Stewart/Image of Sports/Newscom/Zuma Press
Tesla Inc. TSLA 1.39% is moving its headquarters to Austin, Texas, becoming the latest Silicon Valley company to decamp for the Lone Star state.
Chief Executive Elon Musk announced the move from Tesla’s Austin-area factory, where the company held its annual shareholder meeting Thursday. He added that Tesla plans to expand its activities in California, but the company’s ability to scale in the Bay Area is limited.
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