Tesla has officially moved its headquarters from Silicon Valley to its under-construction Gigafactory in southeast Travis County.
In October, CEO Elon Musk had announced plans to uproot the HQ from California during a company shareholder meeting. The company’s filing with U.S. securities regulators on Wednesday locked down the move.
It’s unclear whether the 10,000 employees in Palo Alto will be required to move. An analyst told the Associated Press that while many may be given the option of staying, up to 50% could make the move with some motivated by a lower cost of living in Austin.
“It’s tough for people to afford houses, and people have to come in from far away… there’s a limit to how big you can scale in the Bay Area,” Musk had previously said. Regardless of the HQ move, the company plans to increase production at its California plant.
The HQ swap is the latest development on Giga Texas, the approximately 1,700-acre factory that Tesla received at least $14.7 million in tax breaks for. The factory is on track to start production of its Model Y vehicles by year’s end.
Musk has hinted at making the move for some time. Last year, while California health officials were concerned with the spread of COVID-19, Tesla’s push to reopen the factory in Fremont set off a spat. During an earnings call in April 2020, he’d described the state’s health orders as “fascist.” Recently, Musk relocated his own residence from Los Angeles to Texas, bringing almost each one of his companies along with him, including the Boring Company, Neuralink and his foundation.
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With major entertainment events slated for October, the Austin-Bergstrom International Airport is gearing up for a busy month.
Artists and music lovers are set to pack into Zilker Park for The Austin City Limits Music Festival in the coming two weekends. Following that, Formula One will bring racing fans to the Circuit of the Americas.
For those two events, the airport is anticipating high passenger days with 30,000 or more people departing flights.
ABIA recommends arriving at least two and a half hours in advance for domestic flights on those days. For ACL, it's expected on both Sundays of the festival along with the Monday and Tuesday after. The F1-driven high passenger days are expected on Oct. 20-21 and Oct. 23-26.
\u201c#AustinCityLimits visitors, you\u2019re in for a weird and wild ride \ud83e\udd18\u262e\ufe0f \n\nFlying in or out of our airport? We got firm and fun tips for you: https://t.co/RawVRalOXN\u201d— Austin-Bergstrom International Airport (AUS) (@Austin-Bergstrom International Airport (AUS)) 1664894083
F1, especially, could draw in loads of travelers as the three-day event saw 400,000 attendees last year. ABIA warns that highways leading to the airport may see even higher traffic than usual around the event and that travelers should plan their route accordingly.
Bailey Grimmett, a spokesperson for ABIA, said travel numbers come in 24 hours in advance. So, it's hard to predict if the airport will see travel volumes at the same levels that have happened around previous F1 races or if it'll top ACL's flight traffic.
Still, she says historical knowledge points to a chance for it.
“We've had that Monday after F1 break the record for single busiest in airport history," Grimmett said. "So context clues I would say yes, but I can't confirm that. But the historical background points to that."
In anticipation of the high volume of flyers, the airport received additional TSA officers for security screening through the end of October. To prepare even further, the Department of Aviation and partners hosted a job showcase and hiring fair to address the continued labor shortage the airport has experienced.
Relief from hectic travel days is on the horizon with November likely to see a slowdown.
"I don't anticipate it will be as busy as October just because we don't have as many events going on," Grimmett said. "Thanksgiving is kind of our primary holiday that we see a lot of passengers coming in and out of the airport."