Tesla has announced its intention to acquire key assets from the German parts manufacturer Manz AG, which recently filed for insolvency. This strategic move, valued at approximately €60 million ($65 million), aims to bolster Tesla's supply chain capabilities as it continues to ramp up vehicle production.
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The deal is set to be finalized by the end of the first quarter of 2025, subject to regulatory approvals. Tesla's acquisition will enable the company to enhance its manufacturing processes and secure crucial components that have been difficult to source amid ongoing supply chain challenges faced by the automotive industry.
Manz AG specializes in producing high-precision machinery and is known for its technology in automation, which Tesla seeks to integrate into its operations. This acquisition marks Tesla's ongoing commitment to solidifying its position as a leader in the electric vehicle market, particularly in the European region, where demand continues to rise.
Source: reuters
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