Tesla-owned businesses

Solar energy, energy storage, and automated industrial equipment are all examples of renewable energy.

Tesla Inc. (TSLA) specialises in the development and production of high-performance completely electric vehicles. Energy generating and storage solutions, as well as services linked to its products, are also offered by the electric vehicle manufacturer. 1 Tesla was established in the year 2003. The idea was to create cars that were less dependant on fossil fuels while still being as speedy and entertaining to drive as gasoline-powered vehicles. In 2008, Tesla introduced the Roadster, which was followed by the Model S, Model X, and Model 3. Tesla has added an SUV, the Model Y, as well as two other types of trucks, the Tesla Semi and the Cybertruck, to its electric vehicle lineup in recent years. 2 With a market value of $606 billion as of December 17, 2020, Tesla has become the most valuable automaker in the world. It has also started to post consistent profits and has qualified for inclusion in the S&P 500 Index. 3 Tesla had a net loss of $775 million on revenue of $24.6 billion in 2019.

Tesla is still a young company, but it has grown quickly to become the most valued manufacturer thanks to a series of major acquisitions, particularly in recent years. Those purchases were generally made to increase manufacturing capacity, improve operational speed and efficiency, and lower prices.

We take a closer look at five of Tesla's most significant acquisitions below. The corporation does not break down how much profit or income each purchase brings in at the moment.

SolarCity Corporation is a solar energy company based in the United States.

• Solar Energy Acquisition is a type of business. $2.1 billion in price
• Maxwell Technologies Inc. purchased the company on November 21, 2016.
• Energy Storage and Power Delivery Products are the type of business.

Purchase price: $207 million

11 Date of Purchase: May 16, 2019 (completed)

Maxwell Laboratories Inc., the company's original name, was created in 1965. In 1983, it went public, and in 1996, company changed its name to Maxwell Technologies Inc. Ultracapacitors, which are devices capable of retaining many times more energy than conventional capacitors, are a specialty of the energy storage and power delivery solutions manufacturer. Its products are utilised in transportation, industrial, and grid energy storage, among other applications. 12 Tesla purchased Maxwell in May of this year. Musk has previously stated that ultracapacitors will be a game-changer in the manufacturing of electric automobiles. He was particularly bullish about Maxwell's efficient approach for generating electric battery components, which he believes might significantly lower Tesla's manufacturing costs. 13

Grohmann Engineering GmbH is a German engineering firm.

• Automated Manufacturing Systems (AMS) is a type of business.
• Acquisition $135.3 million is the asking price.
• Acquisition Wednesday, January 3, 2017

Klaus Grohmann created Grohmann Engineering in 1963 in Germany. The company specialises in automated manufacturing system design and development. When Tesla announced its acquisition of Grohmann in November 2016, the company had 700 employees and had grown at a 6% annual rate for the previous 20 years. 15 In January 2017, Tesla paid $135.3 million for the company. An initial cash payment of $109.5 million was made, followed by a $25.8 million payment in the first quarter of the year as part of an incentive compensation plan. The acquisition, according to Tesla, would help the electric vehicle company increase the speed and efficiency of its manufacturing operations while also lowering costs. 14 Mr. Grohmann was expected to remain in charge of the acquired company, which was renamed Tesla Grohmann Engineering. 16 Mr. Grohmann was fired months after the acquisition due to a disagreement with Musk over the treatment of Grohmann's current customers, many of whom were German car rivals to Tesla.

Perbix Machine Co., Inc. is a company that manufactures machines.

Acquisition of Automated Manufacturing Equipment is the type of business. Financial specifics were not disclosed, although the estimated worth was $10.5 million. 18 Acquisition 7th of November, 2017 (completed)

Perbix is a company that specialises in designing and building specialised, highly automated production equipment. It was formed in 1976. Tesla bought the company in 2017. Tesla had bought Grohmann Engineering, a German-based company in a similar field, earlier in 2017. With the purchase of Perbix, Tesla will be able to manufacture more of its vehicle parts in-house, giving them greater control over auto production. The acquisition was another move in Tesla's push to streamline and accelerate the production process of its electric vehicles, following the Grohmann acquisition.

Hibar Systems Ltd. is a company based in the United Kingdom.

Acquisition Type of Business: Automated Liquid Dispensing and Filling Systems Manufacturer Financial terms are not given.

Date of Purchase: 201921

Canada-based Hibar Systems began operations in 1974. The company specialises in high-precision dispensing pumps and filling systems, such as automated vacuum filling systems for lithium-ion batteries used in electric vehicles. 22 Because Tesla made no announcement about the transaction, it's unclear when it happened. According to multiple U.S. and Canadian outlets, Tesla designated Hibar as one of its companies in an October 2 file with the Canadian government. 23 The company's interest in Tesla is considerably more obvious. Hibar will enable the electric vehicle manufacturer to develop its own battery cells. This decision will help Tesla reduce critical operating expenses and reduce its reliance on Panasonic Corp. (6752), with whom it owns and manages a Nevada-based battery manufacturing in partnership.

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SolarCity was created in 2006 by two cousins of Elon Musk, two brothers.

6 Musk was the one who came up with the idea for the company, as well as providing the initial working money and serving as its chairman. SolarCity produces, instals, and sells solar energy systems, as well as solar-generated power. Tesla announced in August 2016 that it has struck an agreement to buy SolarCity, with the deal set to close later that year. Tesla claims that the merger would establish the world's first vertically integrated sustainable energy company, combining Tesla's energy storage with SolarCity's solar generation to create synergies. 8 Despite the fact that the merger was approved by a majority of Tesla shareholders, a number of Tesla stockholders eventually sued the firm. They stated that the real reason for the sale was to save SolarCity, which was having financial problems at the time.