Tesla is adding an energy storage company to its electric vehicle and energy business.
In a $218 million deal with San Diego-based Maxwell Technologies announced Monday, Tesla plans to buy the energy storage makers who build products for the grid, cars, trucks, transportation systems (like railroads), and more.
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“We are 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,” a Tesla spokesperson said in a statement.
The purchase — expected to close later this year — will give Tesla more access to building cells, battery systems, and modules for its battery-powered vehicles, and energy supplies. Currently, Tesla’s Reno, Nevada Gigafactory is the main site for its own battery production with Panasonic. Read more…
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Source : Tesla plans to buy energy storage company for $218 million
