Trending

Stories

Tesla Invests $218 Million in an All-stock Deal to Acquire Maxwell Technologies

Must Read

Moupiya Dutta
Moupiya Dutta
She finds it interesting to learn and analyze society. she keeps herself updated, emphasizing technology, social media, and science. She loves to pen down her thoughts, interested in music, art, and exploration around the globe.

Tesla is acquiring battery technology developer Maxwell Technologies in a deal valued at $218 million. On Monday, the deal was announced that Elon Musk might be looking to Maxwell Technology for help to make its batteries better performing.

The all-stock acquisition values San Diego-based Maxwell at $4.75 a share, or a 55 percent premium over the stock’s Friday closing price of $3.07 a share. Maxwell said it expects the deal to close in the year’s second quarter.

Also Read

The news comes as a natural progression for San Diego-based Maxwell, which has been in conversations about a potential “strategic partnership” for some time now. The company’s claim to fame is its dry electrode technology also the basic ultracapacitors, which can produce electrodes without using solvents. And by integrating this dry electrode tech, EV makers like Tesla stand to reap huge benefits with increased battery performance and reduced prices.

With Tesla acquiring Maxwell, it could very well be the boost for the Model 3 maker needed after a not-so-impressive start to the year. It may even mean a defining edge for the company over its current competitors in the market, including Audi e-Tron SUV, Kia e-Niro, and Hyundai Kona.

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Related

- Advertisement -
- Advertisement -
Sony Unveils Project Q: A Next-Gen Handheld Game Console Snapchat Hits 200M+ Users in India, Introduces AI Chatbot Super Mario Bros. Movie: 6.4 Million Tickets Sold in Japan Samsung Galaxy A14 Launches in India with Impressive Features BGMI Returns: Battlegrounds Mobile India Now on Play Store Twitter Accuses Microsoft of Data Use Policy Violation GIFs take over Instagram comments, unleashing creative expressions! The First US State to Ban TikTok: Montana’s Bold Move Adobe Unveils New Product Line for Digital Marketing Advancements iPhone 15: Early Production and Design Changes for Improved Availability
Sony Unveils Project Q: A Next-Gen Handheld Game Console Snapchat Hits 200M+ Users in India, Introduces AI Chatbot Super Mario Bros. Movie: 6.4 Million Tickets Sold in Japan Samsung Galaxy A14 Launches in India with Impressive Features BGMI Returns: Battlegrounds Mobile India Now on Play Store Twitter Accuses Microsoft of Data Use Policy Violation GIFs take over Instagram comments, unleashing creative expressions! The First US State to Ban TikTok: Montana’s Bold Move