Tesla Inc. has acquired Perbix, a closely held maker of automated machines used for manufacturing, as the electric-car maker struggles to boost production of its most important new model.
Perbix has been a supplier to the automaker led by Elon Musk for almost three years, according to a Tesla spokesman, who declined to disclose the terms of the deal. James Dudley, Perbix’s president, will receive about $10.5 million in Tesla stock, according to a regulatory filing.
Musk last week alluded to automation challenges as among the reasons the Model 3 sedan, which starts at $35,000, has gotten off to a bumpy start. The chief executive officer pushed back a projection for when Tesla will make 5,000 of the cars per week by about three months, to the end of the first quarter of next year. Tesla said in a filing last week it’ll wait until reaching that intermediate target before taking steps to boost weekly output to 10,000 units, allowing the company time to optimize its automation and conserve spending.
Read the full story at Bloomberg.com.