Tesla bought supplier Mercedes and BMW and saved it from bankruptcyOctober 3, 2020
Elon Musk’s company acquired the German firm ATW
German company ATW (Assembly & Test Europe GmbH), which was recently preparing for bankruptcy, announced its sale to “the leader in the field of electric vehicles from California.” The company’s statement does not name its buyer, but The European, citing industry sources, claims it is without a doubt Tesla.
ATW is primarily concerned with the design and manufacture of assembly lines for automotive factories. It is a relatively small firm with 211 employees.
The company is known as a supplier of equipment for assembling transmissions for Magna conveyors. And also as a manufacturer of the latest battery assembly lines for Mercedes and BMW. ATW has shown strong profits for a long time, but due to the coronavirus and forced downtime, the company faced financial difficulties and was preparing to lay off its employees.
This is the second such acquisition for Tesla in Germany. In 2017, Elon Musk’s company bought Grohmann Engineering GmbH, which also specializes in the development of automatic production equipment.
The purchase looks beneficial to both parties. This is an opportunity for ATW to survive. And for Tesla, a chance to improve the most complex manufacturing process. Earlier we wrote that when launching the mass Model 3, the Californian company faced precisely the difficulties in automating the assembly of batteries. It was the specialists from Grohmann Engineering GmbH who helped to solve this problem, but it is obvious that there is still room for improvement in this area.
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