Which company did Tesla acquire in 2019 for battery technology?

Tesla acquired Maxwell Technologies in 2019 for its battery and ultracapacitor technology.

Maxwell Technologies was a California-based company known for ultracapacitors and dry-electrode technology. Tesla announced the acquisition in February 2019 and completed it in May of that year through an all-stock transaction.

The deal reflected Tesla’s interest in improving battery manufacturing, energy density, and production efficiency. Maxwell’s dry-electrode process was considered potentially useful because it could reduce solvent use and simplify some manufacturing steps.

Tesla later sold Maxwell Technologies in 2021. The acquisition is therefore different from Tesla’s purchase of SolarCity, which occurred in 2016 and concerned solar-energy products. It also differs from Tesla’s acquisition of Grohmann Engineering, an automation company bought in 2017.