Share price drops by double digits: Tesla strikes: Acquisition of Manz saves jobs – but not all of them!
Tesla has agreed to take over some assets of the insolvent Manz AG. The German automation specialist filed for bankruptcy in December due to liquidity shortages.
The subsidiary Tesla Automation will take over the Reutlingen site from Manz and integrate over 300 employees and movable assets into its production. Both parties have agreed not to disclose the purchase price.
The Stuttgart District Court opened insolvency proceedings over the assets of Manz AG on February 24, 2025. Attorney Martin Mucha from the Grub Brugger law firm was appointed insolvency administrator. "We are pleased to have successfully concluded the negotiations with Tesla, to have preserved many jobs and thus enabled the employees to have a professional future in what is probably the best-known automotive group in electromobility," explained Mucha.
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