Finance
Tesla to acquire parts of insolvent German parts maker Manz
Published by Global Banking & Finance Review®
Posted on February 25, 2025
2 min readLast updated: January 25, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 25, 2025
2 min readLast updated: January 25, 2026
Tesla acquires parts of Manz AG, expanding its German presence. Over 300 employees will join Tesla Automation, with the deal subject to merger control.
BERLIN (Reuters) - U.S. carmaker Tesla will acquire parts of the insolvent German high-tech parts maker Manz AG, including more than 300 employees at its site in Reutlingen city in the southwest, the German company said on Tuesday.
The deal marks a wider presence by Tesla in Germany, where it runs a manufacturing site near Berlin, even after CEO Elon Musk endorsed the far-right party AfD, which mainstream parties have refused to work with due to its extreme positions.
Tesla sold almost 60% fewer cars in Germany in January than a year earlier, as the U.S. electric vehicle maker faces a test of popularity amid Musk's U.S. political involvement.
Manz's insolvency administrator and Tesla Automation GmbH, a subsidiary of the U.S. company, signed a purchase agreement on Monday, the German company said.
The parties agreed not to disclose a purchase price, and completion of the transaction is subject to merger control law.
Tesla Automation, which specializes in the construction of special-purpose machines at three German locations, plans to take over more than 300 employees, acquire movable tangible assets, and use Manz's property in Reutlingen.
Approximately 100 employees will lose their jobs and not be transferred to Tesla Automation, according to Manz.
Insolvency administrator Martin Mucha said the structured sales process for other assets was moving forward.
"We are currently holding promising talks with several interested parties," added Mucha in a statement.
(Writing by Miranda Murray; Editing by Ludwig Burger and Bernadette Baum)
Tesla will acquire parts of the insolvent German high-tech parts maker Manz AG, including more than 300 employees at its site in Reutlingen.
Tesla sold almost 60% fewer cars in Germany in January compared to the previous year, indicating a challenge in maintaining popularity.
More than 300 employees will be transferred to Tesla Automation, while approximately 100 employees will lose their jobs and not be transferred.
The completion of the transaction is subject to merger control law, and the purchase price has not been disclosed.
Insolvency administrator Martin Mucha mentioned that the structured sales process for other assets is moving forward and that promising talks are ongoing with several interested parties.
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