Image default
Energy & Power Manufacturing

Tesla buys battery technology company

Tesla is buying the battery company Maxwell Technologies Inc. about $218 million in stock.

The deal gives Tesla a boost in battery technology as it tries to cut costs and mass produce electric cars. Those improvements involve improving battery capacity and cutting down on recharging time.

David Lyle, the chief financial officer at Maxwell Technologies Inc. told analysts last month that because of recent technological developments, the San Diego company expected to form new partnerships within six months.

Tesla Inc. expects to deliver 360,000 to 400,000 vehicles this year, a growth rate of 45 percent to 65 percent compared with 2018. The company recently announced a 7 percent cut to its workforce.

HVDC Belt and Road 2019

Moving Power Across the Eurasian Continent

Conference – May 22, 2019 | Site Tour – May 23, 2019

Shanghai, China

www.amgfirst.com/hvdcchina2019

Source: https://idahonews.com/news/auto-matters/tesla-buys-battery-technology-company

Related posts

China’s manufacturing sector has ‘great need to automate,’ says ABB chairman

arcmediaglobal

89% of workers in Malaysia are positive about digitalisation

arcmediaglobal

Petronas conducting feasibility study on energy supply in Silica Valley

arcmediaglobal

Leave a Comment