Elon Musk, Gavin Newsom announce Tesla's new engineering HQ in California
Tesla CEO and California governor teamed up for a press conference
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California Gov. Gavin Newsom and Tesla CEO Elon Musk on Wednesday teamed to hold a joint press conference to announce the electric vehicle giant's global engineering headquarters will be in California.
The two men addressed a gathering in front of the former Hewlett Packard headquarters in Palo Alto to reveal that Tesla's engineering department will be taking over the building in a move Musk said he is "very excited" about.
California Gov. Gavin Newsom, left, joins Tesla CEO Elon Musk to announce the electric vehicle giant's global engineering headquarters will be in Palo Alto, California. (FOX Business screengrab / Fox News)
Musk famously moved Tesla's corporate headquarters from Palo Alto to Austin, Texas, in 2021, and moved from California to the Lone Star State himself. He previously slammed California for "overregulation, overlitigation, overtaxation."
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But Newsom and Musk celebrated together during their announcement Wednesday.
A pedestrian walks past Hewlett-Packard Enterprise Inc.'s then-headquarters in Palo Alto, California, on May 22, 2016. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
Newsom said, "It's a point of pride — always has been — that Tesla is a California company, started right here." Musk went on to note the California governor was "one of the first people to buy a Tesla Roadster back in the day."
Despite his move to Texas, Musk's business empire has maintained a significant footprint in California.
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A Tesla vehicle drives past Tesla's factory in Fremont, California, on May 11, 2020. (REUTERS/Stephen Lam/File Photo/File Photo / Reuters Photos)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 357.09 | +11.93 | +3.46% |
The billionaire said during the presser that Tesla's manufacturing plant in Fremont, California, is "the highest-output automotive plant in North America" and is set to churn out roughly 600,000 cars this year.
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Musk also owns the social media giant Twitter, which is based in San Francisco.
Reuters contributed to this report.