Tesla buys ATW, which builds battery production lines

Tesla buys ATW, which builds battery production lines

Tesla buys ATW, which builds battery production lines

Investing.com – Tesla is acquiring German battery assembly line manufacturer supplying BMW and Mercedes-Benz products, ELECTREK reports, citing several informed sources.

Over the past several years, Tesla has been actively buying manufacturing design and manufacturing machine companies such as Hibar Systems and Compass Automation.

Tesla is now reportedly adding another subsidiary as it plans to expand its own battery cell manufacturing capacity.

During the recent Battery Day, the head of the company, Elon Musk, promised to halve the cost of batteries in a few years using new technologies and processes and create an “affordable” electric car.

Several reports from Germany, including from The European and Wirtschaftskurier, confirm that Tesla has acquired ATW Assembly & Test – Europe GmbH, a subsidiary of ATS Automation.

ATW specializes in building battery and transmission assembly lines for major German car manufacturers such as BMW and Daimler.

The company had financial troubles and now Tesla has bought the company with 210 employees.

In preparation, materials from electrek.co were used

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