Tesla to buy German equipment maker

Frankfurt

TESLA Motors Inc has agreed to buy German manufacturing-technology specialist Grohmann Engineering to add on production expertise ahead of the move by the American maker of electric car to roll out its first mass-market model.

Grohmann Engineering will be renamed Tesla Grohmann Automation after the acquisition, which will enable the Fremont-based Tesla to step up its production rate - and this after an already-fivefold increase in the last four years.