Tesla (TSLA.O) plans to shift its state of incorporation to Texas from Delaware, following a Delaware judge’s rejection of Elon Musk’s $56 billion pay package.
Musk, critical of Delaware’s legal environment, conducted a poll on social media, with over 87% of 1.1 million votes favoring the move.
Tesla relocated its headquarters to Texas in 2021, and Musk aims to hold a shareholder vote for the state transfer.
Texas hosts one of Tesla’s gigafactories, a significant expansion project, and a lithium refinery.
Musk has expressed discomfort about growing Tesla’s AI leadership without increased voting control.
