Tesla Motors (Nasdaq: TSLA) is making an in-roads into one of the few markets that have banned it from conducting direct sales with consumers.

According to the Detroit Free Press, Tesla has acquired Riveria Tool, which, according to Bloomberg, "designs, develops, manufactures, and sells metal stamping die systems used in the production of sheet metal parts and assemblies for the automotive industry."

Notably, Riveria Tool Company trades OTC under the ticker "RIVT." Shares are up 238 percent today with about 580,000 shares clicking through, versus a typical trading day containing 10,700 shares of volume.

The firm has about 100 employees and they are all expected to be retained with Tesla potentially planning to add more down the line. The company may also be renamed Tesla Tool & Die at some point.

While it may not be a huge acquisition for Tesla, it may show Michigan legislatures that the company is serious about doing business in the state.

Shares of Tesla are down modestly Thursday.