Tesla Inc has agreed to acquire German ATW Automation, a supplier assembling battery modules and packs for the auto industry, a source familiar with the transaction said on Friday.
FILE PHOTO: A Tesla car is charged at a super-fast multi-charging power column in Bonn, Germany November 5, 2018. REUTERS/Wolfgang Rattay/File Photo
ATS on Sept. 25 announced that certain assets and employees at one of its Germany-based units would be sold and transferred to a third party, without disclosing the name of the company.German outlets TheEuropean and WirtschaftsKurier first reported the acquisition. Tesla plans to ramp up battery production significantly in the coming years and during a recent event presented innovations that it said would sharply reduce the cost of battery packs within the next three years.
Tesla’s planned future lineup includes the light duty Cybertruck and the Semi truck, which require higher battery capacities.
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