GM’s recent acquisition of TEI, a company with a notable history of collaboration with Tesla in pioneering gigacasting technology, has set the automotive industry abuzz. With an estimated value approaching $100m the strategic move may indicated GM’s positioning to bolster its manufacturing capabilities in gigacasting.
GM has acquired TEI, a company that has a history of collaboration with Tesla in the development of gigacasting – high-pressure aluminium die casting of body parts. The acquisition, estimated at a value of just less than $100m, signals GM’s intent to enhance its manufacturing capabilities in gigacasting, and competitively position itself in the fast-evolving EV market.
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The production pauses come at an already challenging time for GM due to recent union negotiations.
