Tesla Motors, an American automaker and energy storage company is buying a specialist German engineering firm to help in its quest to produce 500,000 electric cars a year.
On Tuesday November 8, Tesla founder Elon Musk announced the purchase of Grohmann Engineering, saying it marked a significant step in Tesla’s bid to dramatically increase its production.
However, Tesla did not announce how much it was paying to Grohmann Engineering.
Grohmann Engineering employs approximately 700 people, but Musk announced that he expects to hire another 1,000 skilled engineers.Musk described the purchase as an important first step toward manufacturing cars in Europe.
“Tesla is going to make very significant investments in Europe… we’re going to be contributing a lot,” Musk said. “We sell a lot of cars in Europe. But obviously we think the right thing to do is start producing cars… in the European market.”
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