Tesla buys Michigan-based auto parts maker
Electric carmaker Tesla Motors is acquiring Riviera Tool, a Michigan-based auto-parts manufacturer. The company makes stamping parts, which are sent to Tesla's Fremont, assembly plant in California.
According to reports, Tesla will rename the business to Tesla Tool & Die. With an increased demand for the Tesla vehicles that posted sales of over 10,000 in the first quarter of the year, requires an increased manufacturing capacity that is expected to be served with the acquisition.
(PRA)
