Tesla acquires Canada-based Hibar Systems to make its own cells
By Akshay Kedari  Date: 2019-10-07

Tesla acquires Canada-based Hibar Systems to make its own cells

The automobile industry’s quest to reduce its harmful effect on the environment and transform automotive mobility into a sustainable mode have highlighted the importance electric and hybrid vehicles. Numerous automakers worldwide are putting in their best to develop next-gen green vehicles. They have also started to acquire battery manufactures to strengthen their manufacturing capabilities to become a global leader.

A similar instance occurred recently when Tesla Inc., an American automotive and energy company, acquired Hibar Systems, a Canada-based battery and engineering manufacturing company, for manufacturing of its own battery cells.

For a record, Hibar has expertise in automated manufacturing of batteries. The company’s latest technology offering includes advanced automated vacuum filling systems for Lithium-ion battery appliances for use in hybrid cars, computer notebooks, and similar products. Hibar is also working on manufacturing high-speed Lithium battery production systems.

Sources cite that this acquisition comes at a crucial time for Tesla, as the California-based electric carmaker is known to be leveling up its efforts in battery manufacturing.

Though, this deal is not Tesla's first purchase in this space. Previously, the company acquired Maxwell, a California-based company that has been manufacturing next-gen lithium-ion electrodes. Moreover, Tesla has inked a 5 year research agreement with Canadian research leader Jeff Dahn for working on the concept of a million-mile battery.

Sources claim that the recent acquisition says a lot about Tesla's strategy. Manufacturing custom batteries with extended performance and range could give an added advantage to Tesla in this competitive era. The deal also suggests that the company is striving for fast track production of battery cells.

Notably, Tesla is going continue its ties with current battery suppliers like Panasonic and LG Chem in the coming time, as the company only signals its desire to take greater control of its operations.

Source Credit - https://electrek.co/2019/10/05/tesla-quietly-acquires-battery-manufacturer/

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Rivian secures USD 2.65 billion months before its first vehicle launch
Rivian secures USD 2.65 billion months before its first vehicle launch
By Akshay Kedari

Electric vehicle startup, Rivian, backed by Ford Motor Co. and Amazon.com Inc., has reportedly announced an investment round of USD 2.65 billion led by T. Rowe Price, months before its first vehicle launch. Sources with knowledge of the matter state...

BMW drivers can now unlock and start cars without using their iPhone
BMW drivers can now unlock and start cars without using their iPhone
By Akshay Kedari

German multinational automobile manufacturer, Bayerische Motoren Werke AG, commonly known as BMW, has reportedly unveiled an upgraded version of its mobile car key technology, called the Digital Key Plus. This product enables iPhone users to unlock t...

FMCG firms resort to marginal hike to cope with raw material inflation
FMCG firms resort to marginal hike to cope with raw material inflation
By Akshay Kedari

The recent inflation in raw materials has reportedly prompted players in the FMCG sector to take price hike measures for their products, in a bid to maintain the revenues. According to reliable sources, some FMCG companies, including Marico, have al...

boAt raises USD 100 million in funding from Warburg Pincus
boAt raises USD 100 million in funding from Warburg Pincus
By Akshay Kedari

Indian consumer electronics brand, boAt, has reportedly secured funding of USD 100 million from Warburg Pincus, a New-York-based private equity firm, at a USD 300 million valuation. The company will utilize these funds to expand its product portfoli...

Elevar Therapeutics and Inceptua partner to commercialize Apealea®
Elevar Therapeutics and Inceptua partner to commercialize Apealea®
By Akshay Kedari

According to reliable sources, U.S.-based fully integrated biopharmaceutical company, Elevar Therapeutics Inc., has signed an exclusive agreement with Inceptua Group for the commercialization and distribution of its non-cremophor based paclitaxel tre...