Original title: musk announced that Tesla headquarters will move to Texas: people can't afford a house in the California Bay area
[global network report] according to Russia today (RT), Elon Musk, co-founder of Tesla, an American electric vehicle manufacturer, announced at the annual general meeting on the 7th that the company's headquarters would be moved from Palo Alto, California to Austin, Texas, on the grounds that the company's expansion in the Bay area was limited.

"I am pleased to announce that we will move our headquarters to Austin, Texas," Musk said in the live online broadcast of the day. Rt said Musk's major announcement won warm applause.

"People can't afford a house and have to come from far away," Musk said of his current headquarters in California.
The report mentioned that Texas governor Abbott welcomed Tesla and said that "lone star state is a place of opportunity and innovation".
According to RT, Tesla was founded in Silicon Valley in 2003 and moved its headquarters from San Carlos to nearby Palo Alto in 2010. It is reported that musk himself has moved to Texas.
In addition, high operating and housing costs have forced many large companies to move from Silicon Valley to other places. Large technology companies Oracle and HP also moved to Texas last year.