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Tesla to move headquarters to Texas from Silicon Valley

EV maker says Shanghai Gigafactory output overtakes California site

Despite a global chip shortage, Tesla delivered 241,300 vehicles globally in the July-September quarter, up 73% from a year earlier. (Photo courtesy of Tesla)

PALO ALTO, U.S. -- Tesla held its annual shareholder meeting in its Austin, Texas, Gigafactory for the first time on Thursday and announced it will move its headquarters to the southern state from its longtime base in Fremont, California.

The U.S. EV-maker said it will continue to expand production in California despite the move -- though the company also revealed that in terms of output, its Fremont factory had been overtaken by its Shanghai plant.

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