“It’s tough for people to afford houses (in the San Francisco Bay Area) and lots of people have to come from far away” to work in Fremont and in Palo Alto, Calif., where the headquarters is located, Musk emphasized. “There are limits on how big you can scale in the Bay Area.”
Tesla’s annual meeting was webcast from Gigafactory Texas, the still-under-construction factory in Austin.
Musk said in December that he had already moved to Texas. And was splitting his time between Texas and California.
When asked whether Tesla may be looking at building more car manufacturing plants, Musk agreed. He says the company may start “investigating sites for future locations” soon and maybe make a decision in 2023.
The car company that Elon Musk founded delivered a record 241,300 vehicles in the third quarter. This accomplishment comes despite the still present COVID-19 pandemic and a serious semiconductor shortage.
Tesla shares at last check were down 0.5% in the after-hours session. And they ended the regular trading day up 1.4%. Overall Tesla shares have gained 12% so far this year. This is comparable with gains of around 17% for the S&P 500 index.
