11/08/2016

Tesla buys Germany's Grohmann Engineering to help ramp up electric car production

Electric carmaker Tesla Motors Inc (TSLA.O) has agreed to buy Germany's Grohmann Engineering GmbH, which develops automated manufacturing systems for batteries and fuel cells, as the California-based company seeks to expand its production more than sixfold by 2018.
Unlisted Grohmann Engineering, based in Pruem, Germany, helped Tesla rivals Daimler (DAIGn.DE) and BMW (BMWG.DE) build production facilities for electric car batteries.

Tesla is seeking to raise its global manufacturing capacity to 500,000 vehicles in 2018 from an expected production rate of about 80,000 this year. Its main production facility is in Fremont, California.
(Reporting by Aishwarya Venugopal in Bengaluru and Edward Taylor in Frankfurt; Editing by Susan Fenton)

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