If you can't beat them, buy them. 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.
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