Tesla (TSLA) on Tuesday confirmed the acquisition of Perbix, a designer of automated manufacturing equipment.
Minnesota-based Perbix was founded in 1976 and "designs, builds and services highly-automated, high-volume manufacturing machinery that will help Tesla accelerate the world's transition to sustainable energy," Tesla said.
Perbix has been a Tesla supplier for roughly three years and has provided the electric automaker with a substantial amount of custom machinery currently used in its Gigafactory and Fremont, Tesla added.
"As part of our ongoing effort to create the world's most advanced high-volume factories, Tesla has acquired PERBIX, a leader in designing and building custom, high-quality, highly-automated manufacturing equipment. PERBIX, which has been a Tesla supplier for nearly three years and has executed flawlessly on a number of extremely complex automation projects, will be fully integrated into Tesla. Moving forward, we will be expanding our presence and recruiting efforts in the Twin Cities area as we continue to build the machine that builds the machine," according to a Tesla spokesperson who emailed TheStreet.
Shares of Tesla were moving lower during Tuesday morning trading.
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