Tesla believes that under the continued leadership of Grohmann, several critical elements of Tesla's automated manufacturing systems will be designed and produced in Prüm to help make its factories the most advanced in the world.

"Combined with our California and Michigan engineering facilities, as well as other locations to follow, we believe the result will yield exponential improvements in the speed and quality of production, while substantially reducing the capital expenditures required per vehicle," the statement added.

Till date, Tesla has increased the production rate at its Fremont Factory by 400% in four years, and it expects this acquisition to accelerate that growth rate.

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