Tesla CEO calls California a ‘one-party’ state that’s hostile to business and innovation.
Elon Musk may have founded most of his companies in California, but he’s become increasingly critical of the state as a place to do business.
The Tesla (TSLA) – Get Tesla Inc Report CEO made that much clear in recent comments during a virtual appearance at the recent All-In Conference held in Miami.
“California used to be the land of opportunity,” Musk told the audience. However it’s turned into “the land of taxes, overregulation and litigation and this is not a good situation.”
Musk became increasingly critical of the state as Tesla ramped up its production facilities. He famously built the first so-called gigafactory in neighboring Nevada, after winning generous tax concessions from that state. He went on to build facilities in Shanghai and near Berlin. But when the time came for a new U.S. factory, Musk opted for Texas.
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