- July 22, 2021
- Posted by: Stratford Team
- Category: Business
Tesla (TSLA) has sold back Maxwell Technology’s ultracapacitor business and brand after acquiring it just over two years ago.
Back in 2019, Tesla announced the acquisition of Maxwell Technology, a San Diego-based ultracapacitor and battery company, for over $200 million.
While the company was mostly known for its ultracapacitor business, it had just developed a dry electrode technology for battery cells, and Tesla revealed that it is what the automaker was really after.
Tesla used the technology in its 4680 battery cell unveiled last year.
Nonetheless, Tesla integrated Maxwell’s ultracapacitor business into the company, but it wasn’t clear if it planned to use the technology in its own products.
Two years later, it never did, and we’ve now learned that it sold Maxwell’s ultracapacitor business to UCAP Power, another ultracapacitor business.
UCAP made the announcement in a press release last week:
“UCAP Power, Inc., a leading…
