Economy

Tesla Inks Deal To Acquire Maxwell Technologies In Stock Deal

Tesla Inks Deal To Acquire Maxwell Technologies In Stock Deal”

Tesla moving in so boldly with a full acquisition deal hints at the prospect of a breakthrough in battery technology that has Tesla excited enough to dive in.

San Francisco: Electric carmaker Tesla has acquired US-based energy storage company Maxwell Technologies in an all-stock deal valued at $218 million, a deal aimed at helping the electric automaker improve its batteries and lower costs as more competitors enter the market.

Jumping in with a commitment to purchase Maxwell is an indicator that Tesla sees massive potential with the technology and hints at the future of solid-state batteries that so many have held out as the holy grail of energy storage for so many years.

"We're always looking for potential acquisitions that make sense for the business and support Tesla's mission to accelerate the world's transition to sustainable energy", the spokesperson said.

Tesla does not invest lightly, as can be seen with its acquisition of Grohmann Automation, which gave it a competitive advantage and a way to maximize automation in the Tesla Model 3 production lines to get the auto to scale faster.

Combined with the energy of batteries, ultracapacitors can enable rapid response times, extend operational temperature range and lengthen battery life by up to two times, according to a Maxwell Technologies.

Clearly, however, the technology is still an area of interest for Musk and his company, and was a motivating factor in the acquisition of Maxwell.

Maxwell's customers also include General Motors and Lamborghini. Maxwell shares rose to trade at $4.58.

Panasonic is the exclusive battery cell supplier for Tesla, which in turn is Panasonic's biggest EV battery client. This will be especially useful for regenerative braking, as slowing down a three thousand pound vehicle produces a lot of energy, and Tesla's current battery technology can't soak all of it up. Supercaps are also used to store massive amounts of electricity in national power grids.

Panasonic shares fell nearly 6.5 percent on Tuesday after the electric vehicle battery maker reported a drop in quarterly earnings and cut its full-year outlook, just as EV partner Tesla branched out in battery tech. During its fourth quarter, the company turned a small profit and expects to do so in each quarter this year.



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