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Tesla Inc. announced Monday one of its rare acquisitions of Maxwell Technologies Inc., a company specializing in ultracapacitors, to strengthen the battery technology of the Silicon Valley automaker as it accelerates the production of the Tesla Model sedan. 3.
The heavily indebted electric car manufacturer, whose CFO resigned just four days ago, is making the acquisition as part of an all-equity operation.
This should allow Telsa to save money for its other short-term obligations, just as the company has released dubious results that have not met expectations.
Chicago-based Almington Capital joked:
What's another $ 40 million net loss between friends? $ TSLA $ TSLAQ $ MXWLhttps://t.co/zuMHrGAzZE
– Almington Capital (@AlmingtonCap) February 4, 2019
The transaction values Maxwell shares at $ 4.75 per share, which represents a 55% premium over the closing price of the stock on Friday, according to the companies.
Maxwell's shares exploded on Monday at the announcement of the merger:
Shares of Maxwell battery manufacturer explain 50% announcement of takeover of Tesla https://t.co/kIwwaXStDy
– MarketWatch (@MarketWatch) February 4, 2019
A spokesman for Tesla said Monday:
"We are always looking for potential acquisitions that make sense for the company and support Tesla's mission to accelerate the world's transition to sustainable energy."
Current Maxwell customers include General Motors and Lamborghini. Therefore, their capacitors have already proven themselves on automobiles from other factories to extend the life of their battery while improving their performance. Their capacitors are also used for power grid applications, including alternative energy sources and storage.
Ultracapacitor says the transaction is approved by its board of directors and expects to complete the acquisition by the end of June this year or shortly thereafter.
Reuters reports that DLA Piper LLC for Maxwell (with Barclays Capital Inc. acting as independent advisor) and Wilson Sonsini Goodrich & Rosati for Tesla are among the external legal counsel representing the two companies for the acquisition.
A better electric battery
Ultra-capacitors are electrical energy storage devices capable of storing a large amount of electrical charge. Unlike resistance, which dissipates energy in the form of heat, the ideal capacitor does not lose its energy. -Electronic tutorials
In 2013, Elon Musk tweeted:
@yes_andre I am a big fan of ultra-capacitors. I was going to do my PhD at Stanford on them. But we need a breakthrough in energy density …
– Elon Musk (@elonmusk) May 20, 2013
Among the many applications of ultra-capacitors, two are important for Tesla:
1) Better electricity storage and better durability for a longer life of the Power Wall product, the Power Wall, which provides backup power for homes.
2) Use in regenerative braking systems. Tesla's electric vehicles use regenerative braking (a technology developed by Toyota for large-scale mbad-produced automobiles, for its Prius hybrid and all electric vehicles).
Traditional car brakes use friction to slow down and prevent the car's wheels from spinning, and this friction absorbs all the kinetic energy of the car's inertia and converts it into heat, which then dissipates into the air and gets lost.
Tesla car's salvage brakes work differently, driving the vehicle's electric motors in reverse, converting the inertia of the car into electricity that recharges the batteries and saves energy while extending the reach of the vehicle. .
3) Provide starting power and voltage stabilization in the Tesla vehicle start / stop systems to give all this electrical torque a softer power arc during acceleration.
The ability of these ultra-capacitors to store as much energy creates more energy sources for vehicle use, allowing for faster responses.
Voltage stabilization features can increase operating temperature ranges while extending the battery life of Tesla cars up to 100%.
See all 2018 flights from Elon Musk in 1 minute
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