Thursday, June 1, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Biz Plus

Tesla moving headquarters to Texas from Silicon Valley–Elon Musk

Manila Standard BusinessbyManila Standard Business
October 8, 2021, 7:10 pm
in Biz Plus
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

San Francisco—Tesla chief Elon Musk told investors on Thursday that the leading electric vehicle maker is moving its headquarters from Silicon Valley to Texas, where it is building a plant.

“I’m excited to announce that we’re moving our headquarters to Austin, Texas,” Musk said at an annual shareholders meeting.

“Just to be clear, though, we will be continuing to expand our activities in California.”

Musk said Tesla sales are growing strongly, and the company is ramping up deliveries despite shortages of computer chips and other components.

Tesla aims to increase production at its plant in Fremont, California, by some 50 percent, Musk said.

But that plant is hitting its limits on how much more it can handle, he said.

“When we first went in there it was it like a kid in his parents’ shoes; tiny us and this giant factory,” Musk said of its inaugural plant in Silicon Valley.

“Now, it’s like a spam can. We are hitting the sides of the bowl.”

He noted that the cost of living in Silicon Valley is high for workers, with home prices putting them out of reach for workers, who often wind up with long commutes.

Musk has clashed with regulators in California, and is among high-profile tech figures who personally left the state for places with lower income taxes and less regulation.

“This was a smart strategic move for Tesla,” said Wedbush analyst Daniel Ives.

“We believe this was the first step towards Tesla making Austin its domestic and global foundational location over the coming decade with its recent frustration with California officials likely accelerating this move.”

A stockholder-submitted proposal to have Tesla disclose more about diversity and inclusion efforts at the company won approval, despite opposition from the board of directors, according to preliminary results.

It calls for comprehensive breakdowns of Tesla’s workforce by race and gender, along with insights into how well efforts to improve diversity are doing, to be routinely disclosed to investors.

“The business case for diversity is clear,” said Calvert Research and Management vice president Kimberly Stokes, who spoke on behalf of the proposal.

“As shareholders we are concerned that Tesla’s lack of focus on equity, diversity and inclusion could hinder the company’s ability to innovate in the future.” 

Calvert’s winning proposal was one of four put on the agenda by investors urging Tesla to better protect worker rights and well-being.

A California jury this week ordered Tesla to pay a Black former employee $137 million in damages for turning a blind eye to racism the man said he encountered at the firm’s Silicon Valley auto plant.

“They awarded an amount that could be a wake-up call for American corporations,” said civil rights attorney Larry Organ, who represented the former Tesla worker.

“Don’t engage in racist conduct and don’t allow racist conduct to continue.” 

Tags: Calvert Research and ManagementElon MuskSilicon ValleyTesla
ADVERTISEMENT
Manila Standard Business

Manila Standard Business

Related Posts

PHILEX MINING CORPORATION: Notice of the 2023 Annual General Meeting of Stockholders

byManila Standard
June 1, 2023, 6:00 am
0
8
Philex eyeing partners for $1.1-billion Silangan mine

Read more

Musk talks ‘new energy vehicles’ with minister during China visit

byAFP
May 31, 2023, 9:20 pm
0
8
In reversal, Musk to continue funding Starlink in Ukraine

BEIJING, China—Elon Musk and China’s industry minister discussed ways to develop new energy vehicles Wednesday, a day after the Tesla...

Read more

PHILEX MINING CORPORATION: Notice of the 2023 Annual General Meeting of Stockholders

byManila Standard
May 31, 2023, 6:15 am
0
8
Philex eyeing partners for $1.1-billion Silangan mine

Read more

URC to move CADPI Sugar Milling Equipment to Balayan Mill

byManila Standard
May 31, 2023, 6:10 am
0
8
URC to move CADPI Sugar Milling Equipment to Balayan Mill

In line with its expansion plan to provide better service to local sugarcane farmers, Universal Robina Corporation (URC) will be...

Read more

PXP ENERGY CORPORATION: Notice of Annual General Stockholders’ Meeting

byManila Standard
May 31, 2023, 6:05 am
0
8
PXP ENERGY CORPORATION: Notice of Annual General Stockholders’ Meeting

Read more

ROBINSONS BANK CORPORATION: Notice of Annual Stockholders’ Meeting

byManila Standard
May 31, 2023, 6:00 am
0
8
ROBINSONS BANK CORPORATION: Notice of Special Stockholders’ Meeting

Read more

Print Edition

View More

Recent Posts

  • MSD in the Philippines reaffirms commitment to end cervical cancer
  • Cavite City relives first waving of the Philippine Flag  
  • Aggao Nac Cagayan starts today, highlights victory of Cagayano spirit
  • Butler says Heat-Nuggets furore in past
  • Amazon settles Ring customer spying complaint
  • PHILEX MINING CORPORATION: Notice of the 2023 Annual General Meeting of Stockholders
  • Urban gardening
  • Maharlika bill goes to Palace

Advertisement

Latest News

PHILEX MINING CORPORATION: Notice of the 2023 Annual General Meeting of Stockholders

byManila Standard
June 1, 2023, 6:00 am
0
8
Philex eyeing partners for $1.1-billion Silangan mine

Read more

Urban gardening

byManila Standard
June 1, 2023, 1:05 am
0
8
Villacorta new LTO officer-in-charge

The Department of Agriculture and SM Supermalls, through its corporate social responsibility arm, SM Foundation, renew their Memorandum of Agreement...

Read more

Maharlika bill goes to Palace

byMacon Ramos-Aranetaand2 others
June 1, 2023, 1:00 am
0
8
Villacorta new LTO officer-in-charge

House adopts Senate version, keeps ban on state pension funds The enrolled copy of the Maharlika Investment Fund (MIF) bill...

Read more

Economic managers laud passage of MIF with ‘several safeguards’

byJulito G. Radaand1 others
June 1, 2023, 12:55 am
0
8
Ople expects OFW remittances to post a sharp increase in Q1

Economic managers said the Senate version of the Maharlika Investment Fund (MIF) bill that was approved early Wednesday morning has...

Read more

Solons commend Speaker for ‘exceptional’ leadership

byMaricel Cruz
June 1, 2023, 12:50 am
0
8
Obiena bags 3rd SEAG gold with record leap in rain

The House of Representatives on Wednesday night unanimously adopted a resolution commending Speaker Martin Romualdez for “his exceptional, reformative and...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App