Two Dozen Banks Sidestep Texas Law Punishing Gun, Oil Policies


Tesla speeds the EV industry’s South by Southwest drive

AUSTIN, Texas (Reuters) -Tesla Inc’s decision to move its headquarters to Austin, Texas, from Palo Alto, California, accelerates the shift of electric vehicle industry jobs to Southern and Western U.S. states that offer lower taxes, lighter regulation and less unionization than the coastal Blue states where most electric vehicles are sold. Electric vehicle startups and established automakers have lined up $24 billion in investments in new factories in Texas, Arizona, Oklahoma, Tennessee and Kentucky. CEO Elon Musk’s announcement during the No. 1 EV maker’s annual meeting on Thursday puts an exclamation point on the shift in the U.S. auto industry’s center of gravity – and also highlights the tensions it could create.

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