Tesla to acquire German engineering company

In a blog post, Tesla says it has entered into an agreement to acquire German engineering company Grohmann Engineering. Led by founder and CEO Klaus Grohmann, Grohmann Engineering is experienced in highly automated methods of manufacturing.
November 10, 2016 Read time: 1 min

In a blog post, 8534 Tesla says it has entered into an agreement to acquire German engineering company Grohmann Engineering.

Led by founder and CEO Klaus Grohmann, Grohmann Engineering is experienced in highly automated methods of manufacturing. The transaction will serve as the initial base for Tesla Advanced Automation Germany headquarters. Tesla expects to add over 1,000 advanced engineering and skilled technician jobs in Germany over the next two years.

Several critical elements of Tesla’s automated manufacturing systems will be designed and produced in Germany and, combined with its California and Michigan engineering facilities, as well as other locations to follow, Tesla believes this will yield exponential improvements in the speed and quality of production, while substantially reducing the capital expenditures required per vehicle.

To date, Tesla has increased production rate at its US factory by 400 per cent in four years, and expects this acquisition to accelerate that growth rate. While the agreement is contingent upon clearance from regulators, including in Germany, Tesla hopes to have full approval and close the acquisition in early 2017.

Location Based Systems

For more information on companies in this article

Related Content

  • Developments in travel information display systems
    August 1, 2012
    David Crawford looks at recent developments in travel information display systems. It is important to remember that we are investing in Real-Time Passenger Information [RTPI] to increase ridership," says Robert Burke, Managing Director of New Zealand transit tracking technology specialist Connexionz, which has been involved in at-stop and remote passenger information since 1995. "Superior information improves the perception of public transport reliability and gives the passenger more choices and greater con
    Read More
  • Q-Free increases its stake in Intelight
    March 20, 2015
    Q-Free has increased its stake in US traffic controller supplier, Intelight, with a five year option program which will give shareholders the option to sell shares at closing in 2015 and in five subsequent years valid from 2016. The deal will give Q-Free the opportunity to add some 15 per cent of Intelight shares to its current 10.2 per cent shareholding each year. At end of the five year period, Q-Free has the option to acquire the rest of the shares. The first transaction will be closed during the second
    Read More
  • Schneider Electric to acquire Telvent for $2 billion
    January 27, 2012
    Schneider Electric has signed a definitive agreement with Telvent GIT to make a cash tender offer for all of Telvent's shares at a price of $40 per share, which represents a premium of 36% to Telvent's average share price over the last 3 months.
    Read More
  • Syracuse models post-industrial revival for US cities
    August 13, 2015
    A connective corridor in Syracuse, New York State, could be a model for other post-industrial cities, as David Crawford discovers. The aim of the city of Syracuse’ 5.6km-long Connective Corridor in Onandaga County in upstate New York is to create a model ‘complete street’ for use in wider regeneration schemes. Key transport-sector components are traffic calming, high-quality transit with accessible passenger information, plus walkability and bike-friendliness.
    Read More

Highlighted Content