Tesla will move its corporate headquarters to Austin, Texas, where a brand new factory for the Model Y and coming Cybertruck is nearing completion.
Chief executive Elon Musk announced the move on Thursday during the electric-vehicle maker’s shareholder meeting from the Austin plant.
Tesla has been based in Palo Alto, California, the leafy Silicon Valley suburb that is home to Stanford University and several venture capital firms, since its founding in 2003.
But the company has grown from scrappy start-up to the world’s most valuable car maker and Texas, centrally located between the two coasts, has become its centre of gravity in the US.
Mr Musk said Tesla was not abandoning California, saying the electric-car maker will continue to expand its manufacturing in the state.
It aims to boost production at its vehicle factory in Fremont, and at its Nevada battery plant, by 50 per cent.
“We will continue to expand our activities in California. This is not a matter of Tesla leaving California,” Mr Musk said.
Californian Governor Gavin Newsom’s office and the state’s economic development agency did not immediately respond to requests for comment.
Mr Musk moved to Texas to focus on two big priorities for his companies: SpaceX’s new Starship vehicle, under development on the Gulf Coast near Brownsville, and Tesla’s Gigafactory in Austin.
Texas has no personal income tax, while California imposes the highest personal income levies in the nation on its wealthiest residents.
Mr Musk, the world’s richest person according to the Bloomberg Billionaires Index, moved his private foundation to Texas in December.
It is the company’s third-biggest market in the US after California and Florida, although years of opposition from car dealers mean it could not sell its electric cars directly there.
In 2010, Tesla bought a closed auto plant across the San Francisco Bay in Fremont.
About 10,000 people work at the plant, which was a former joint venture between General Motors and Toyota, and scores of other Tesla employees work at showrooms, service centres and offices throughout the region.
Mr Musk’s long-term relationship with California soured in the spring of 2020 during the first wave of the coronavirus.
When Alameda County ordered production stopped at Tesla’s plant in Fremont, he defied public health officials by closing late and reopening early, blasting the rules as “fascist” on an earnings call.
Mr Musk briefly sued the county, but Tesla has continued to expand its footprint in the Golden State.
A new “Megafactory” that will make Mega packs, the energy-storage product Tesla sells to utilities, is under construction in the Central Valley city of Lathrop.
Race results:
1. Thani Al Qemzi (UAE) Team Abu Dhabi: 46.44 min
2. Peter Morin (FRA) CTIC F1 Shenzhen China Team: 0.91sec
3. Sami Selio (FIN) Mad-Croc Baba Racing Team: 31.43sec
Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
More coverage from the Future Forum
Meydan Racecourse racecard:
6.30pm: The Madjani Stakes Listed (PA) | Dh175,000 | 1,900m
7.05pm: Maiden for 2-year-old fillies (TB) | Dh165,000 | 1,400m
7.40pm: The Dubai Creek Mile Listed (TB) | Dh265,000 | 1,600m
8.15pm: Maiden for 2-year-old colts (TB) | Dh165,000 | 1,600m
8.50pm: The Entisar Listed (TB) | Dh265,000 | 2,000m
9.25pm: Handicap (TB) | Dh190,000 | 1,200m
10pm: Handicap (TB) | Dh190,000 | 1,600m.
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
England World Cup squad
Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood
COMPANY%20PROFILE
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Mohammed bin Zayed Majlis
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
COMPANY%20PROFILE
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Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
TOURNAMENT INFO
Opening fixtures:
Friday, Oct 5
8pm: Kabul Zwanan v Paktia Panthers
Saturday, Oct 6
4pm: Nangarhar Leopards v Kandahar Knights
8pm: Kabul Zwanan v Balkh Legends
Tickets
Tickets can be bought online at https://www.q-tickets.com/apl/eventlist and at the ticket office at the stadium.
TV info
The tournament will be broadcast live in the UAE on OSN Sports.
