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Elon Musk May Be Planning Move To Texas

Benzinga EV Insights
·1 min read

Back in May, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk threatened to move himself and his company out of California and to Texas and Nevada over concerns about the Golden State's COVID-19 shutdown.

Tesla is building its next U.S. factory in Texas.

Later in the year, Musk sold his homes in California. Now a story from CNBC says Musk is talking to friends and associates about moving from California to Texas.

Musk has received numerous financial awards this year as Tesla's stock continues to hit new highs.

California has the highest state income taxes in the country, while Texas has none.

Musk's space exploration company SpaceX is also operating out of Texas.

Musk often posts on Twitter from Texas. He is there frequently to work with SpaceX on developing rockets to take satellites to orbit, and also a large ship aiming to take the first humans to Mars.

Click here to check out Benzinga's EV Hub for the latest electric vehicles news.

Photo courtesy of Tesla.

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