Tesla Acquires Maxwell
Super car manufacturer Tesla has acquired the battery maker Maxwell Technologies for over 200 million.
It seems Tesla and Maxwell had discussions for years about the opportunities between the two companies. However Tesla has been serious about the deal since 2018.
Earlier this week Tesla announced its final offer for Maxwell and the deal is now completed.
Tesla announced in a press release : “Tesla, Inc. (NASDAQ: TSLA) today announced the successful completion of its previously announced offer to exchange all outstanding shares of common stock of Maxwell Technologies, Inc. (“Maxwell”) for 0.0193 of a share of Tesla common stock, together with cash in lieu of any fractional shares of Tesla common stock, without interest and less any applicable withholding taxes.”
Maxwell has recently been discussing a dry electrode technology for batteries. This technology seems to have great potential in improving the performance of Li – Ion batteries. It’s this reason that motivated Tesla for the acquisition.
Rather than being involved in the battery manufacturing business, Tesla seems to have other intentions. They plan to integrate dry electrode technology into current Li-Ion batteries of Tesla vehicles. So the battery performance and efficiency of future Tesla vehicles will be improved from 15% to 50%.