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A significant development involved Tesla's automation arm, which announced its intention to acquire the insolvent German engineering firm Mon's AG. This strategic move allows Tesla to strengthen its engineering capabilities, specifically in regard to high-level automation in manufacturing.
Mon's AG, with nearly 40 years of experience in advanced manufacturing technology focusing on electric vehicle (EV) battery production, fell into insolvency due to a downturn in Europe’s battery market. Tesla’s acquisition includes over 300 employees, assets, and property in Rotlingen. Though the financial terms of the deal remain undisclosed, it showcases Tesla's ongoing strategy of vertical integration to build its “machine that builds the machine.”