Tesla Acquires Grohmann Engineering In First Major Acquisition

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Tesla Acquires Grohmann Engineering In First Major Acquisition
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While Tesla CEO Elon Musk is pushing for shareholders to accept his plans to purchase SolarCity, another company founded by Musk, that deal remains a work in progress so the acquisition of Grohmann Engineering could be the automaker’s first major buy. The company which specializes in automated manufacturing innovation and should help Tesla reach its goal of the mainstream and the production of 500,000 vehicles by 2018 when it begins production of the Model 3 next year.

Gigafactory and Grohmann to help Tesla meet its goals

While Tesla has begun production of the batteries it requires to meet production, its massive $5 billion Gigafactory in the Nevada desert won’t be completed until 2020 but is open at 14%. Musk knows that Grohmann will help Musk and Tesla produce the “machine that builds the machine” for its Freemont, California factory as well as other future factories.

The deal, whose financial details were not revealed with today’s announcement, should be completed in early 2017 assuming no issues arise with regulators in Germany and elsewhere.

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