Big Law

Key Tesla Gigacasting Supplier Acquired by GM

By snapping up a specialist in sand casting techniques that accelerated the development of Tesla’s gigacasting molds and allowed it to cast more complex components, GM has jump-started its own push to make cars more cheaply and efficiently at a time when Tesla is racing to roll out a $25,000 EV, the people said.

“General Motors acquired Tooling & Equipment International (TEI) to bolster its portfolio of innovations and secure access to unique casting technology,” GM said in a statement to Reuters in response to questions for this story.

Tesla and TEI President Oliver Johnson did not respond to requests for comment.

Read the source article at Nasdaq

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