Elon Musk Says Tesla, SpaceX Manufactured In Costly California Just Because He Lived There Even As Rivals Boeing, Lockheed Martin Left: 'These Were Done In Spite Of, Not Because Of, The California Govt'
Portfolio Pulse from Anan Ashraf
Elon Musk revealed that Tesla and SpaceX began manufacturing in California due to his residence there, despite higher costs and not because of state support. Musk criticized California's policies, leading to Tesla's headquarters moving to Texas. Competitors like Boeing and Lockheed Martin have relocated manufacturing to lower-cost states.
October 23, 2024 | 6:07 am
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NEUTRAL IMPACT
Elon Musk's comments highlight Tesla's initial manufacturing in California due to his residence, not state incentives. This could impact investor sentiment regarding Tesla's operational decisions and cost management.
Musk's statement emphasizes personal reasons over strategic state incentives for Tesla's manufacturing location, which may affect perceptions of Tesla's cost management and operational strategy. However, the impact on stock price is neutral as this is historical context.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80