Billionaire CEO Elon Musk said on Tuesday that his companies, Tesla Inc. (NASDAQ:TSLA) and SpaceX, started manufacturing in California despite the higher cost because he lived in the state. What Happened: Tesla bought its Fremont Factory from Toyota Motor in 2010. It was previously owned by NUMMI, a joint venture between General Motors and Toyota which ended when GM entered bankruptcy in 2009. “Tesla took over the derelict building, after it was stripped of anything useful, and it is now the highest production car factory in the Americas! That was simply because I lived in California,” Musk sa…
