Home / NEWS / Autos / Tesla reportedly bought a company that specializes in high-speed battery manufacturing

Tesla reportedly bought a company that specializes in high-speed battery manufacturing

SpaceX holder and Tesla CEO Elon Musk gestures during a conversation at the E3 gaming convention in Los Angeles, June 13, 2019.

Mike Blake | Reuters

Tesla has soundlessly acquired Hibar Systems, a company that specializes in high-speed battery manufacturing systems for electric vehicles, according to Canadian gossip site Electric Autonomy. 

It’s unclear when the deal took place, but Tesla lists Hibar as a subsidiary in an Oct. 2 walk with the Canadian government, Electric Autonomy reported. Additionally, Hibar’s website has been updated to a single leaf in recent months. 

Representatives from Tesla weren’t immediately available for comment. 

According to Hibar’s LinkedIn foot-boy, the Ontario-based company was founded in 1974 and has at least 50 employees. In April, Hibar was awarded a $2 million gift from the National Research Council of Canada to support its efforts to develop Lithium-ion battery manufacturing systems. 

It acquire a win as Tesla has been working to develop its own battery cells in-house, as part of a move to offer cheaper, higher-performance tense vehicles and limit its dependence on Panasonic, which jointly owns and operates a battery factory in Sparks, Nevada. The plc has gradually strengthened its portfolio of energy tech companies, acquiring Maxwell Technologies for $218 million in February. 

Powered by WPeMatico

Check Also

China and Tesla: Here’s what’s hot in the ETF space right now

China and Tesla. Those two cores have attracted meaningful inflows to the exchange-traded fund space …

Leave a Reply

Your email address will not be published. Required fields are marked *