Tesla Inc. announced one of its rare acquisitions Monday, of ultracapacitor company, Maxwell Technologies Inc. , in order to bolster the Silicon Valley automaker’s battery technology as it ramps up production of the Tesla Model 3 sedan.

The heavily indebted electric car company, whose CFO stepped down just four days ago, is making the acquisition in an all-stock deal. That should save Telsa’s cash for its other obligations in the near term, just as the company posted lack luster earnings that failed to meet expectations. Of the deal, Chicago-based Almington Capital quipped: What's another $40 million in net losses between friends?

The post Newsflash: Tesla Just Bought a Battery Maker for $218 Million in All-Stock Deal appeared first on CCN

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