14:33 GMT20 February 2020
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    Tesla CEO announced that the acquisition of the San Diego-based ultracapacitor and battery company Maxwell for over $200 million might bring the company new developments in battery technologies.

    Musk has confirmed that Tesla is not very interested in ultra-capacitors for its cars, even though several analysts had mulled integrating Maxwell’s ultra-capacitor business into the company. Instead, the billionaire shed some light on Tesla’s plans and said that it was excited about the company’s battery technology, including its dry electrode product, as part of the acquisition.

    “It’s kind of a big deal. Maxwell has a bunch of technologies that if they are applied in the right way I think can have a very big impact,” Musk said on the Third Row Tesla podcast.

    A more detailed plan of how the company will be working on its own battery cells is likely to be announced at Tesla’s ‘Battery and Powertrain day’, which Musk now says should happen in “a few months.”

    “Most other car companies want to outsource battery technology. There’s the battery, module and cell. They are all outsourcing the cells, but some are even outsourcing the modules and the packs. They are not thinking about fundamental chemistry improvements,” Musk said.

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    battery, Tesla, Elon Musk
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