Tesla buys Germany's Grohmann Engineering

- November 8th, 2016

Reuters reported that Tesla Motors (NASDAQ:TSLA) announced that it has agreed to buy Germany company Grohmann Engineering GmbH, developer of automated manufacturing systems for batteries and fuel cells. As quoted in the article: Unlisted Grohmann Engineering, based in Pruem, Germany, helped Tesla rivals Daimler (DAIGn.DE: Quote) and BMW (BMWG.DE: Quote) build production facilities for electric car … Continued

Reuters reported that Tesla Motors (NASDAQ:TSLA) announced that it has agreed to buy Germany company Grohmann Engineering GmbH, developer of automated manufacturing systems for batteries and fuel cells.
As quoted in the article:

Unlisted Grohmann Engineering, based in Pruem, Germany, helped Tesla rivals Daimler (DAIGn.DE: Quote) and BMW (BMWG.DE: Quote) build production facilities for electric car batteries.
Tesla is seeking to raise its global manufacturing capacity to 500,000 vehicles in 2018 from an expected production rate of about 80,000 this year. Its main production facility is in Fremont, California.
“To date, we have increased the production rate at our Fremont Factory by 400 percent in four years, and we expect this acquisition to accelerate that growth rate,” Tesla said in a blogpost.

Click here for the full article.

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