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Tesla acquires battery technology firm

17/05/2019
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Tesla have announced a successful completion of a $235 million deal to acquire Maxwell Technologies, Inc.

A current battery cell developed by Tesla
(Image via Tesla)

Maxwell is an ultracapacitor and battery component manufacturer who claim that their dry electrode tech enables an energy density of over 300 Wh/kg in current demonstration cells, and could potentially reach over 500 Wh/kg.

For comparison, a Tesla Model 3 battery pack has an energy density of 272 Wh/litre, with 2170 cells producing 207 Wh/kg.

The battery company have also demonstrated close to 90% capacity retention after almost 1,500 cycles, with their cells maintaining their capacity at higher discharge rates and much better than the same cells without their dry electrode.

Tesla’s takeover deal takes the form of a transfer of stocks, following negotiations that have been going on since December. 

The firm said in a press release:

“Tesla, Inc (NASDAQ:TSLA) today annoucned the successful completion of its previously announced offer to exchange for 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 elss any applicable withholding taxes.”

Through the deal, Tesla will be hoping to advance their battery technology and gain a significant leap over their competitors as one of the first to embrace supercapacitors.

Based on Maxwell’s reports, their dry electrode technology can be easily integrated into the production of current Li-on cells, increasing the performance with no big impact on cost.

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Tesla acquires battery technology firm - Time to read 2 min
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