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Tesla plans to buy energy storage company for $218 million

Mimi Sabreena 4:02:00 PM Editor Choice

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.

"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...

More about Tesla, Electric Vehicles, Batteries, Charging Stations, and Tech

✍ Source : ☕ Mashable

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