Elon Musk reportedly plans to move to Texas

Photo by Britta Pedersen-Pool/Getty Images

Tesla and SpaceX CEO Elon Musk is planning to move from California to Texas, a move that would potentially save him from a huge personal income tax bill, CNBC reported.

Musk announced in July that Tesla was building its next US factory in Austin, where it will produce its Cybertruck, Model Y, Model 3, and Semi vehicles. The company received tens of millions of dollars in local property tax breaks to build the plant on 2,100 acres east of Austin’s airport, over the objections of some local residents. The factory is expected to begin delivering its first vehicles in 2021. Musk’s Boring Company already has operations in Austin, and SpaceX has a facility in Boca Chica, Texas.

Earlier this year, Musk tweeted that he was “selling almost all…

Continue reading…

Read more