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Tesla CEO Elon Musk said the company would relocate its headquarters from California to Austin.

Just days after rumors swirled about the tech company's relocation, Tesla CEO Elon Musk announced Thursday that the company would follow its billionaire leader and move its headquarters to Austin.

Musk, who has had a long history of run-ins and complaints about the company's former home state of California, said in Tesla's third quarterly meeting that the company would switch HQ's from Palo Alto to Austin. The annual shareholders meeting was held at Austin's Giga Texas plant rather than its usual Bay Area location, leading some to believe that the move was imminent.

According to Musk, the company will still continue to ramp up operations by as much as 50% in its Fremont, California location—but Texas allows the company more space to grow.

"You go to our Fremont factory, it is jammed," Musk said. "We're like spam in a can."

Musk has previously called new tech hub Austin a "Little California" and joins Oracle, Hewlett-Packard and dozens of smaller tech startups in making the shift to the "Silicon Hills."

Musk moved to Austin in December 2020 and has flip-flopped between Austin and his 375-square-foot primary residence in South Texas as he monitors the production of Tesla's Giga Texas factory and SpaceX's rocket prototypes.

Austin's Giga Texas plant will begin producing Cybertruck models at the end of 2022 and will begin "volume production" by 2023, Musk said in the meeting. Musk said supply chain shortages are the culprit for the Cybertruck's multiple delays.


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