Tesla to acquire German battery assembly maker ATW Automation: Report
Electric car maker Tesla has agreed to acquire German battery assembly maker ATW Automation, according to a Friday report from Reuters, citing a source familiar with the transaction. ATW Automation, a subsidiary of Canadian ATS Automation Tooling Systems, is a supplier assembling battery modules and packs for the auto industry.
Back in September, German media reported that ATA was on the brink of liquidation due to a slump in orders. On September 25, ATS announced that certain assets and employees at one of its Germany-based units would be sold and transferred to a third party, without disclosing the name of the company. Both ATS and ATW did not immediately respond to a request for comment.
Late last month, Tesla CEO Elon Musk unveiled a new ‘tabless’ battery cell that will provide 500% more power. The new technology could improve the driving range and revolutionize Tesla. Unlike the current battery design, the tabless battery design enables a larger form factor, which improves power density, without thermal problems, says Musk. The new tabless cells are bigger than Tesla’s current cells.
In 2010, ATS acquired the majority of Assembly & Test Worldwide, Inc.’s U.S.-based and German automation and test systems businesses. The news of Tesla’s acquisition of ATW Automation was first reported by German news outlets the European and WirtschaftsKurier.
ATS Automation Tooling Systems is a Cambridge, Ontario, Canada-based tech company that designs and builds factory automation systems. Founded in 1978, ATS builds automation systems for the medical devices, pharmaceuticals, telecommunications, semiconductors, fiber optics, automotive, computers, solar energy, and consumer products industries. ATS employs approximately 4,400 people at 22 manufacturing facilities and over 50 offices in North America, Europe, Southeast Asia, and China.