Tesla (TSLA) Just Bought a Company That May Help It Make Cars Quicker

Tesla (TSLA) on Tuesday confirmed the acquisition of Perbix, a designer of automated manufacturing tools.

Minnesota-based Perbix was based in 1976 and “designs, builds and services highly-automated, high-volume manufacturing machinery that will help Tesla accelerate the world’s transition to sustainable energy,” Tesla stated. 

Perbix has been a Tesla provider for roughly three years and has offered the electrical automaker with a considerable quantity of customized equipment at present utilized in its Gigafactory and Fremont, Tesla added.

“As part of our ongoing effort to create the world’s most advanced high-volume factories, Tesla has acquired PERBIX, a leader in designing and building custom, high-quality, highly-automated manufacturing equipment. PERBIX, which has been a Tesla supplier for nearly three years and has executed flawlessly on a number of extremely complex automation projects, will be fully integrated into Tesla. Moving forward, we will be expanding our presence and recruiting efforts in the Twin Cities area as we continue to build the machine that builds the machine,” in response to a Tesla spokesperson who emailed TheStreet.

Shares of Tesla have been shifting decrease throughout Tuesday morning buying and selling. 

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