This chapter presents a mechatronic system concept for highly productive and accurate machine tools. Using the example of an experimental machine called 'MAX', it will be demonstrated that the working precision of a machine can be increased whilst the effort required for machining and assembly of its mechanical components is kept to a minimum. Firstly, a novel machine structure is introduced, which allows a high reproducibility with low manufacturing effort and provides the necessary degrees of freedom for the correction of motion deviations as well as the additional actuators required for the compensation of dynamic excitations. The simplified requirements for production and assembly of the machine presented leads inevitably to large geometric and kinematic errors. These errors are modelled using rigid-body kinematics. Circularity tests and angular measurements are performed to verify the machine's ability to correct its geometric-kinematic deviations. For a highly dynamic engraving process, the reduction of the dynamic excitation caused by the drive reaction forces is demonstrated using the principle of impulse compensation. Finally, an approach to the correction of elastic and thermo-elastic errors and the comprehensive modelling and simulation-based analysis of the experimental machine are outlined.