Tesla to buy Michigan parts supplier
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Tesla Motors is encroaching on the territory of the Huge Three together with the purchase of a Grand Rapids-centered section provider.
Tesla has apparently reached a deal with Grand Rapids-centered Riviera Device to get the business 's stamping company. Riviera now makes stamping components for Tesla's plant in Fremont, Ca.A source familiar with the situation told the Detroit Free Press that Tesla will switch the title of the company to Tesla Device & Die. Tesla is likely to keep all 100 of Riviera's now workers. Tesla will continue to source components from other stamping firms in the supply sector. The purchase of Riviera Device marks Tesla's first provider acquisition, but it will not probably be the corporation's last."Tesla's competitive quantity target for 2015 h AS the auto-maker operating over-time to ensure adequate output capacity," stated Karl Brauer, senior analyst at Kelley Blue Book. "Buying a Mi-based tool and die business exemplifies Tesla's demand to get a competent and committed making associate. It may signify the first of many such acquisitions we'll find in the months ahead." Read Source
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