- ATW, a subsidiary of Canadian ATS Automation Tooling Systems was on the brink of liquidation due to a fall in orders as per media reports in September
- Tesla plans to ramp up battery production significantly in the coming years
As per a report by Reuters, Tesla Inc has agreed to acquire German ATW Automation, which supplies battery modules and packs for the auto industry as per a source familiar with the transaction. The report added that German media reported in September that ATW, a subsidiary of Canadian ATS Automation Tooling Systems was on the brink of liquidation due to a fall in orders.
ATS in September said that certain assets and employees at one of its Germany-based units would be sold and transferred to a third party. It did not disclose the name of the company. The report added that ATS and ATW did not immediately respond to a request for comment. As per the report, German outlets TheEuropean and WirtschaftsKurier first reported the acquisition.
Ramp up battery production
The report said that ATW has about 120 employees and has completed more than 20 battery production lines for international automakers as per ATS’ website. The report added that Tesla plans to ramp up battery production significantly in the coming years. It is building its third vehicle manufacturing facility near Berlin. This will also include a battery plant and aims to start construction on a new vehicle factory in Texas this year said the report.
