Tesla is officially relocating its headquarters from Silicon Valley to Texas.
CEO Elon Musk announced the move on Friday night at the electric car manufacturer's general meeting.
It has already been held at the new headquarters in the city of Austin, where Tesla is building a large new plant.
Until now, Tesla had its headquarters in the heart of Silicon Valley, in Palo Alto.
When making the announcement, Musk pointed out, among other things, that the cost of living for employees in Texas was lower.
Been dissatisfied for a long time
However, Musk had already threatened to move the company headquarters to Texas last year in the dispute over the closure of the main plant in Fremont near San Francisco.
He was dissatisfied with the fact that the factory was temporarily shut down due to corona restrictions.
The Tesla activities in California are to be expanded, Musk now said.
Among other things, the capacity in Fremont will be increased.
In addition to the factory in Texas, Tesla is also building its first European plant in Grünheide near Berlin.
Texas does not have its own income tax.
In early December, Musk had already confirmed that he had relocated from California to the state of Texas.
He justified the step, among other things, with his local business activities.
His space company SpaceX is developing rockets there.
For Musk, the move should also be financially worthwhile because of the non-levied income tax.
In California he has had to pay significantly higher taxes so far.