AUSTIN, Texas — Austin has been announced as the new headquarters of Tesla.
Texas' capital city was tabbed by Tesla CEO Elon Musk during his shareholders meeting on Thursday.
The move comes as no real surprise, as Musk has spend more than a year building a factory there.
His aerospace company - Space-X - also is headquartered in Texas.
Musk says he's moving Tesla's headquarters from California to the Lone Star State because of strict COVID-19 measures.
And that, despite the move, his electric car company will continue to operate in Palo Alto, Calif.
And even increase production there.