The electric automotive frontrunner of the United States has acquired Canadian based Hibar Systems. The company specializes in the manufacturing of small battery cells and over 49 years of its establishment it has developed an international reputation in the battery manufacturing market.
Currently, Tesla installs its battery cells under its hood with help of Panasonic. It jointly shares a battery manufacturing plant in Sparks, Nevada. While the company has been working on developing its own battery cells, reducing its dependence on the Japanese company.
Over the years, Tesla has been on an acquisition spree marking its footprint in the technology world. In 2019, the California based company has put Maxwell Technologies for $218 Million under its hood, consolidating its energy tech portfolio.
Hibar Systems Business
Founded by German Canadian Engineer Heinz Barall has around 50 employees. The National Research Council of Canda granted $2 Million to the company to develop a high-efficiency lithium-ion battery manufacturing system, especially for mass energy storage.
Hibar Systems business has not been limited to North America. It has managed to make its space in the Chinese exploding battery market. It has coupled its technology with battery behemoth to create its subsidiary Hibar China.
While Tesla has also built Gigafactory in China. According to various media outlets, Tesla is planning to produce thousands of Tesla Model 3 sedans in the Shanghai plant.