Tesla has entered into an agreement to acquire ATW Automation, a German company specializing in the production of lines for the assembly of battery modules and units for the automotive industry. This was announced yesterday by a source aware of the deal.
In September, the German media reported that ATW, a subsidiary of the Canadian company ATS Automation Tooling Systems, is on the verge of liquidation due to a sharp reduction in orders. ATS itself announced on September 25 that some of its assets would be sold and that one of its German subsidiaries and employees would be taken over by another owner. The buyer was not named.
According to the ATS website, ATW, which is based in West Germany, has about 120 employees. It has produced more than 20 battery production lines for international car manufacturers. ATS and ATW have not yet responded to Reuters’ request for comments.
Tesla plans to significantly increase its battery production in the coming years and at a recent event introduced innovations that it said will dramatically reduce the cost of battery packs over the next three years.
The company is currently building its third car assembly plant. The first one is located in the USA, the second one – in China, and the third one is located near Berlin. The company will include a battery factory.