Tesla Inc. TSLA announced late Wednesday a new engineering headquarters at a former Hewlett Packard building in Silicon Valley. In a joint appearance, California Gov. Gavin Newsom and Tesla Chief Executive Elon Musk highlighted Tesla’s California roots. “It’s a point of pride for me and it always has been that Tesla is a California company,” Newsom said. Tesla moved its headquarters to Texas in 2021 after tiffs with state and local authorities concerning 2020 shutdown orders and the Tesla factory in Fremont, Calif., then the only EV-making Tesla plant. Shares of Tesla rose 1% on Wednesday, and are down 27% in the last 12 months. That compares with losses of about 7% for the S&P 500 index. SPX
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.