Palo Alto, California — According to state and local development sources, Tesla plans to invest $3,000,000.00 to build out 85,000 square feet of new space in Palo Alto. The company plans to occupy the new space at 3000 Hanover St, in Palo Alto, on or about May 1, 2024. According to the company website Teslas mission is to accelerate the worlds transition to sustainable energy through increasingly affordable electric vehicles in addition to renewable energy generation and storage. California-based Tesla is committed to having the best-in-class in safety, performance, and reliability in all Tesla cars. There are currently over 275,000 Model S, Model X and Model 3 vehicles on the road worldwide. To achieve a sustainable energy future, Tesla also created infinitely scalable energy products: Powerwall, Powerpack and Solar Roof. As the worlds only vertically integrated energy company, Tesla continues to innovate, scale and reduce the costs of commercial and grid-scale systems, with the goal of ultimately getting us to 100% renewable energy grids.

To learn more about Tesla, visit http://www.tesla.com/

Company Contact:
Zach Kirkhorn, Chief Financial Officer
zkirkhorn@tesla.com
https://www.linkedin.com/in/zachkirkhorn/
888-518-3752

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