Tesla Inc is all set to acquire “German ATW Automation”, the latter being an auto industry supplier of “assembling battery modules and packs”, revealed a source with the knowledge of the said transaction.
ATW is a subsidiary unit of the “Canadian ATS Automation Tooling Systems Inc”. If September’s media reports from Germany are to be believed, the subsidiary arm was almost “on the brink of liquidation” as the orders slumped due to the ongoing global pandemic. On September 25, 2020, ATS made an announcement to inform that “certain assets” as well as employees from one of its units based out of Germany was up for sale whereby subject to being “transferred to a third party”, although no further details regarding the company name etc were revealed.
Both, ATS as well as ATW did not comment immediately on the same while “TheEuropean and WirtschaftsKurier” were the first to report about the possible acquisition. ATW employees nearly 120 people and has the experience of completing over “20 battery production lines for international automakers”, reads its website.
Tesla, on the other hand, has plans of ramping up its battery production capacity as mentioned by the company during a recent innovations presentation wherein it also informed that it will be “sharply reduce the cost of battery packs” in the coming three years.
Moreover, Tesla is now building up “third vehicle manufacturing facility” which is located near Berlin and includes “a battery plant” while there are plans of beginning the construction of a fourth “vehicle factory in Texas this year”. According to Reuters:
“Tesla’s planned future lineup includes the light duty Cybertruck and the Semi truck, which require higher battery capacities”.
Moreover, Tesla also reported that in Q3 the company has made a record global delivery of “139,300 vehicles” while the aim is to take the number to “half a million” by this year end.
References:
reuters.com
ATW is a subsidiary unit of the “Canadian ATS Automation Tooling Systems Inc”. If September’s media reports from Germany are to be believed, the subsidiary arm was almost “on the brink of liquidation” as the orders slumped due to the ongoing global pandemic. On September 25, 2020, ATS made an announcement to inform that “certain assets” as well as employees from one of its units based out of Germany was up for sale whereby subject to being “transferred to a third party”, although no further details regarding the company name etc were revealed.
Both, ATS as well as ATW did not comment immediately on the same while “TheEuropean and WirtschaftsKurier” were the first to report about the possible acquisition. ATW employees nearly 120 people and has the experience of completing over “20 battery production lines for international automakers”, reads its website.
Tesla, on the other hand, has plans of ramping up its battery production capacity as mentioned by the company during a recent innovations presentation wherein it also informed that it will be “sharply reduce the cost of battery packs” in the coming three years.
Moreover, Tesla is now building up “third vehicle manufacturing facility” which is located near Berlin and includes “a battery plant” while there are plans of beginning the construction of a fourth “vehicle factory in Texas this year”. According to Reuters:
“Tesla’s planned future lineup includes the light duty Cybertruck and the Semi truck, which require higher battery capacities”.
Moreover, Tesla also reported that in Q3 the company has made a record global delivery of “139,300 vehicles” while the aim is to take the number to “half a million” by this year end.
References:
reuters.com
