Tesla announces global engineering HQ in Palo Alto
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Tesla (NASDAQ:TSLA) CEO Elon Musk announced a move back to Palo Alto for its new engineering HQ on Wednesday.
In remarks alongside California governor Gavin Newsom, Musk acknowledged the companyâs start in Palo Alto before moving its global headquarters to Austin, Texas. Newsom added that California is keen to remain a key manufacturing hub in the world, joking that Germany can âeat its heart out.â The two also joked about the long wait time for delivery of the Tesla (TSLA) Roadster when Newsom was an early customer for the model.
The new engineering hub will be based in the former headquarters of Hewlett-Packard. Roles at the new office are slated to be focused in the fields of research development and artificial intelligence, per CNBC.
Musk had previously lamented Californiaâs regulatory policies and suggested the state takes the success of Silicon Valley for granted prior to moving the company headquarters to Texas. Newsom, for his part, had also pushed back in the fall of 2022, noting that Tesla has received more than $3.2B worth of direct and indirect California subsidies since 2009, helping the company survive and eventually flourish. Neither party commented on the state of regulation or potential subsidies for the new HQ on Wednesday.
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