Can Maxwell’s ultracapacitors give Tesla’s battery tech a boost?
Source: www.fool.com
Tesla is acquiring Maxwell Technologies for $218 million in an all-stock transaction. The acquisition is in-line with Tesla’s plan to increase its production and reduce the cost of its batteries for the Model 3 variant. Shares of Maxwell rose ~50% to close at $4.59 on Monday. The transaction was approved by Maxwell’s board of directors and they have reccomended shareholders accept the offer. The transaction is expected to close by the second quarter of 2019 upon regulatory approvals and customary closing conditions.
