Tesla (NASDAQ:TSLA) has acquired an Ontario battery manufacturer, Hibar Systems Limited, according to a filing with regulators. 

The electric-vehicle maker identified Hibar as its subsidiary on October 2 in a registration filing with the federal Office of the Commissioner of Lobbying of Canada. 

Electric Autonomy Canada first reported the Hibar purchase on October 4.

Hibar, based near Toronto, specializes in ultra-high-speed production of batteries. The filing makes no indication of when the acquisition took place or the price.  

This acquisition comes as Tesla ramps up its battery capabilities. It reportedly has been in talks a Brazilian firm about supplying it with lithium, essential for lithium-ion batteries. In February, Tesla’s purchased Maxwell Technologies.

Hibar, which had been privately held, has said that exports account for more than 95 percent of its business.  

In April, it received a C$2 million grant from the Canadian government to support battery manufacturing.

The post Tesla acquires Canadian battery maker Hibar Systems appeared first on Logistics Marketing.



Blythe Brumleve
Blythe Brumleve
I've spent more than a decade in print, digital, and broadcasting. Now I help other companies build their online presence by generating leads, gathering insight and growing revenue.

Outsmart Your Competition