Tesla has sold Maxwell Technologies, a company it bought in 2019 in an all-stock deal. Tesla did not officially announce the sale to investors or the market, or mention it in its earnings call, unlike its acquisition announcement.
Instead, a press release issued by ultracapacitor company UCAP Power said it had purchased the “Maxwell brand [and] Maxwell Technologies Korea business, as well as other assets from Maxwell Technologies.”
Hidden in the detail was the fact Tesla has held on to key Maxwell technology, namely its dry battery electrode (DBE) process methodology.
Tesla CEO Elon Musk confirmed the sale in a series of tweets, noting the irony of selling off technology he had personally investigated. Musk said lithium-ion is sufficient for Maxwell’s capacitor technology.
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