Tesla recently confirmed that it had completed the acquisition of Maxwell Technologies, a California-based company that specializes in ultracapacitors and batteries. In a press release on Thursday, May 16, the electric car maker noted that it is transferring stocks worth over US$235 million to take over Maxwell.
The acquisition of Maxwell Technologies could usher in new improvements in Tesla’s battery technology, which is already among the best in the electric vehicle market today. Before its acquisition by Tesla, Maxwell had been developing dry electrode technologies that could be utilized to create ultracapacitors, which can store large amounts of electrical charge without losing energy. Industry watchers have noted that ultracapacitors could eventually be an alternative to today’s batteries, particularly as they have the potential to be safer and more reliable.
Tesla is in a constant process of improving its vehicles technologies, with President of Automotive Jerome Guillen noting in a previous interview that the batteries of the company are always in a process of improvement. With Maxwell’s technology in its repertoire, Tesla could potentially improve its batteries, widening the gap between itself and its competitors in the electric car market further.
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