Tesla acquires a German battery assembly company

Tesla acquires a German battery assembly company
Tesla acquires a German battery assembly company

Quoted Reuters on Friday quoted an informed source that a company Tesla has agreed to acquire German company ATW Automation, a supplier that assembles battery modules and packages for the automotive industry.

German media reported in September that ATW, a subsidiary of Canadian company ATS Automation Tooling Systems, was on the verge of liquidation due to falling orders.

ATS announced on September 25 that some assets and employees in one of its Germany-based units would be sold and transferred to a third party, without revealing the company’s name.

He works for ATW; Based in western Germany, it has about 120 employees and has completed more than 20 battery production lines for international automakers, according to the ATS website.

Tesla plans to significantly increase battery production in the coming years and during a recent event introduced innovations that it said would significantly reduce the cost of battery packs over the next three years.

The company is currently building its third auto manufacturing facility near Berlin, which will also include a battery factory, and aims to start construction on a new car plant in Texas later this year.

The planned future Tesla range includes the light, truck-like Cybertruck, which requires a higher battery capacity.

Tesla said Friday it set a record number of 139,300 cars delivered globally in the third quarter. The company aims to deliver half a million cars by the end of this year.

In the second quarter of 2020, Tesla said it delivered 90,650 electric cars but produced fewer cars sold, which is 87,048; Most of them are Model 3.

Tesla had begun 2020, saying it expected to deliver at least 500,000 electric cars this year. However, the company has stopped making cash deposits saying that it will “easily exceed” 500,000 deliveries for the current year.

On September 22, the company’s CEO (Elon Musk) said at the company’s annual shareholder meeting: that car deliveries are likely to rise by between 30 and 40 percent compared to 2019. This means that 477,750 to 514,500 cars will be delivered in 2019. 2020, a range that includes Tesla’s previously announced goal to deliver half a million cars this year.

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