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TECHNOLOGY: Musk announces corporate HQ move to Texas

TECHNOLOGY: Musk announces corporate HQ move to Texas 
By GEO´ Newsteam - Gibraltar Newsroom 

Tesla Chief Executive Elon Musk took to the company´s annual shareholders meeting in Austin, Tx to announce that the electric motor manufacturers is to move its corporate headquarters from California to Texas in what is seen by industry analysts as a snub to local government in Alameda county, California where the futuristic Tesla is currently based. 

He gave several reasons for the move, telling shareholders its Californian factory in Fremont was "jammed" however, the billionaire technology entrepreneur has had an fractious relationship at times with California. "There's a limit to how big you can scale it in the Bay Area. In Austin our factory is like five minutes from the airport, 15 minutes from downtown," he said. 

Another strategic reason is of course that California is also a difficult place for his employees to find affordable housing, he told shareholders.

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