Founded July 1, 2003, Tesla Inch. (formerly known as Tesla Motors) is a U.S.-based automaker, energy company and solar panel manufacturer. Led by CEO Elon Musk, it produced the world’s top-selling electric car, the Model S, in 2015 and 2016. Statistics show that global sales of the Tesla Model S reaches 150,000 in November 2016. Fast forward to September 2017, and sales of the Model S surpassed 250,000 units, attesting to the popularity of Tesla’s electric plug-in car.
While Tesla is most known for its Model S, it’s also manufacturers the Model 3 electric vehicle. First unveiled March 2016, the Model S is Tesla’s third-generation electric vehicle. It was originally dubbed the Model E, but Tesla was forced to change the name following a trademark lawsuit by Ford. This prompted Tesla to call the vehicle the Model 3 instead.
With more 500,000 reservations, Tesla has been aggressively working to produce the Model 3 and fulfill demands for the third-generation electric vehicle. According to an article published by TechCrunch, the recent acquisition of Perbix is likely attributed to this fact. In an earnings call, Tesla CEO Elon Musk explained that bottlenecks are slowing down production of the Model 3. To overcome this hurdle, Tesla has acquired Perbix, which it will likely use to improve and automate many of its manufacturing processes, specifically with the new Model 3.
While most people are familiar with Tesla, few have heard of Perbix. According to the Minneapolis Star-Tribune, however, Perbix started as a machine equipment manufacturer more than four decades ago. Since then, it has been working closely with Tesla to develop automated tools and systems.
“Perbix, which started as a maker of machining equipment 41 years ago, has quietly been working with Tesla for nearly three years on automated tools that include a system that makes the drive-unit rotors in its cars,” explained the Minneapolis Star-Tribune.
Tesla further says that the Model 3 has the most automated production process of any vehicle on the market. And thanks to the company’s recent acquisition of Perbix, it will likely become even more automated. This would essentially shorten production times and possibly reduce the total cost of production.
So, how much did Tesla pay for Perbix? Deals of the acquisition haven’t been disclosed. Nonetheless, it’s safe to assume that Tesla paid a pretty penny for the manufacturing robot supplier.