Tesla founder Elon Musk said that they are moving the company's headquarters from the US state of California to Texas because there is more space to expand operations and it has a more affordable cost of living.
"I'm excited to announce that we're moving our headquarters to Austin, Texas," Musk said on Thursday during a shareholder meeting, Washington Post reported.
Musk, who is also the founder of SpaceX, conducts test launches of his prototype Starship rocket in the Texas city of Boca Chica, which he has dubbed Starbase.
He also said Tesla will continue to expand activities in California, according to Sputnik.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor