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.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now