Elon Musk and California Governor Gavin Newsom recently held a joint press conference in Palo Alto, California, to announce that Tesla's global engineering headquarters would be relocating to the former Hewlett Packard headquarters in Palo Alto. Musk, who famously moved Tesla's corporate headquarters from Palo Alto to Austin, Texas, in 2021, has maintained a significant presence in California, including Tesla's manufacturing plant in Fremont, which he says is set to produce 600,000 cars in 2021. Furthermore, Musk owns the social media giant, Twitter, located in San Francisco, California.
The two men expressed enthusiasm for the move, with Musk noting that the California governor was among the first to purchase a Tesla Roadster. Governor Newsom expressed his pride in Tesla being a California-born company.
The press conference follows a year of financial difficulty for California, which has seen a deficit of $54.3 billion, far worse than the projected $26 billion deficit. Despite the state's financial challenges, Tesla has maintained its presence in California and is set to expand its global engineering headquarters in Palo Alto.
It remains to be seen whether Musk and Tesla can continue to be successful in California and maintain their presence in the state. The two men have expressed optimism for the future, but only time will tell if the move will prove to be a successful one.