Tesla Relocates HQ to Austin, Texas, At Same Time Expands 325,000 sf in Palo Alto Stanford Research Park
On the one hand the current richest person in America ($220 billion as of today) Elon Musk announced he is relocating Tesla’s corporate headquarters to Austin, Texas, and on the same day Tesla announced it has leased 325,000 square feet of office space at 1501 Page Mill Road in Palo Alto. This Stanford Research Park boasts some of the highest rental rates in America, so maybe moving the HQ to a lower-cost region like Texas averages out with the more-costly Palo Alto digs. California is still the world’s leader in electric vehicle design and development with over 200 companies involved in this industry located here. Governor Newsom has banned new gas-powered cars in the state by 2035, and lower-income residents who switch to hybrid and all-electric vehicles can receive up to a $8.500 credit through the Clean Cars For All program.
