Tesla Said to Lease Office Space From HP to Expand Presence in California

Tesla has agreed to lease workplace house from HP close to the electrical carmaker’s present headquarters in Palo Alto, California, an individual aware of the matter instructed Reuters.

Tesla’s growth in Palo Alto got here even after CEO Elon Musk introduced final week that the corporate was shifting its headquarters from Palo Alto, California to Austin, Texas.

The individual stated Tesla doesn’t have sufficient house for its present workplaces, which led the corporate to safe an extra website.

Earlier, actual property information supplier the Registry reported Tesla has leased 325,000 sq. ft at 1501 Web page Mill Street from HP, citing sources with data of the leasing market.

Musk has stated Tesla will maintain increasing actions in California, together with boosting output for its automobile manufacturing unit in Fremont and its battery plant in Nevada by 50 p.c.

Musk, who had stated the Texas transfer was on account of lack of house on the Fremont manufacturing unit and costly housing costs in California, didn’t elaborate on how many individuals would transfer to Texas.

Tesla has 12,000 staff within the San Francisco Bay space, together with 750 in Palo Alto, in line with estimates by Silicon Valley Institute for Regional Research.

Neither Tesla nor HP had been instantly obtainable for remark. HP , a pioneer of Silicon Valley, is headquartered in Palo Alto, however its spinoff Hewlett Packard Enterprise has moved its headquarters to Texas.

© Thomson Reuters 2021

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