rperez817 Posted November 15, 2023 Share Posted November 15, 2023 Exclusive: GM snatches key Tesla gigacasting supplier | Reuters For years, a little-known company called Tooling & Equipment International (TEI) has helped Tesla (TSLA.O) push back the frontiers of "gigacasting", the process it pioneered to cast large body parts for cars in one piece to save time and money. Until 2023, that is. TEI is now part of General Motors (GM.N) after agreeing a deal that may have flown under the radar but is a key part of the U.S. automaker's strategy to make up ground on Tesla, four people familiar with the transaction said. Highlights. TEI will remain its own business entity with GM as its parent company TEI is based in Livonia, Michigan TEI began helping Tesla around 2017 to develop the Model Y and is considered in the industry to be one of the world's top sand casting specialists In 2021, GM signed a guaranteed, long-term contact and TEI invested in a new dedicated production line for the Cadillac Celestiq Quote Link to comment Share on other sites More sharing options...
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