Analysts think the decision by Tesla (NASDAQ:TSLA) to move its corporate headquarters to Austin, Texas is a smart strategic move for the automaker as it looks to ramp up production of the Cybertruck and more Model 3 and Model Y production. "While Fremont will continue to be a key for Tesla around Model 3 production, we believe this was the first step towards Tesla making Austin its domestic and global foundational location over the coming decade," notes Wedbush Securities analyst Dan Ives.

Interestingly, Morgan Stanley analyst Adam Jonas thinks something else could be in play with the Austin decision as he notes that Tesla's long-term strategy is poised to "overlap significantly" with the commercial and scientific ambitions of SpaceX (SPACE). Jonas says the efforts of both companies can be enhanced as they focus investment and competency in Texas. It is also pointed out that as SpaceX looks to expand its facilities and launches on the southern Texas coast, it may be advantageous to have sympathy in Austin if safety and environmental concerns are voiced.

Apart from making electric vehicles, Elon Musk may see a path through Texas for his top goals of sending rockets to Mars and helping to make humanity a multi-planet civilization.