Source: Tesla makes 1st acquisition, adds tooling company - StarTribune.com DETROIT — Electric car maker Tesla Motors has made its first acquisition, adding a Michigan tool-and-die maker as it ramps up to build more models. Tesla says it purchased Riviera Tool LLC of Cascade Township. The company makes tools that stamp out metal parts. . . . Tesla says the purchase will help it increase production as it introduces more models. Riviera can help with building of new plastic parts and new metal-forming development, a spokeswoman said. . . . Currently the Palo Alto, California-based Tesla sells only the Model S sedan, but it plans to start selling the Model X SUV by the end of September. A $35,000 car is coming in late 2017. Tesla is predicting that it will sell 55,000 vehicles this year. . . . These stamping dies are massive costing hundreds of thousand dollars. By owning the company, Tesla gets to set their priorities and ensure delivery of what is needed to build numbers exceeding 50,000/year. In contrast, the shell-on-frame of the BMW i3 is built in a more flexible but lower volume process. In short, Tesla is becoming a proper auto company and not just a 'model' shop. Bob Wilson
