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Tesla's Strategic Acquisition in Germany
In a significant move for both Tesla and the German automotive landscape, Tesla Automation GmbH, a subsidiary of the electric vehicle behemoth Tesla Inc., has secured a deal to acquire key assets from the bankrupt German automation system supplier, Mannesmann AG. This acquisition comes at a time when the German economy is experiencing a series of setbacks. Major automotive companies like Continental and Bosch are reducing their workforce, indicating a troubling trend of instability and insolvency across the industry.