Musk reacts to continued shutdown order, announces intent to move HQ

Elon Musk's contentious relationship with Alameda County officials reached a tipping point on Saturday, when the Tesla CEO announced plans to relocate the company's headquarters and "future programs" away from Fremont, California, to facilities in Texas and Nevada "immediately." This came as a response to the continued forced closure of Tesla's Fremont manufacturing plant as per COVID-19 stay-in-place regulations.

Tesla announced a sweeping cost-cutting plan in early April, complete with staff-wide pay cuts and furloughs, which was followed weeks later by an unexpected announcement of profit. In an April 29 call to investors, Tesla confirmed that it had successfully turned a profit for three quarters in a row and was sitting on cash reserves of $8.1 billion.