- Tesla said on Monday that it has acquired Perbix Machine Company, a factory automation company.
- The automaker said that the company will help it build the factory of the future.
- Perbix will continue to operate as part of Tesla in Minnesota and is looking to hire more talent in the area.
Tesla did not disclose terms of the deal, but it did say that it purchased the Minnesota-based company with cash and shares.
Here’s what we know about the company.
Perbix specializes in designing and building highly automated manufacturing equipment and has been a supplier for Tesla for almost three years, according to a Tesla filing with the SEC.
Tesla purchased the company to help it further automate its factories.
“With the acquisition of Perbix, Tesla further advances its efforts to turn the factory itself into a product – to build the machine that makes the machine,” Tesla said on its website.
Musk has been focused on turning Tesla’s factories into a product itself for some time. This is because the more automated a factory is, the more efficient it becomes, thus helping to keep down the price of products.