Autos

A group of Maxwell investors sues to block Tesla acquisition

Tesla Motors CEO Elon Musk reveals a Tesla Energy battery for businesses and utility companies during an event in Hawthorne, Calif., April 30, 2015.
Patrick T. Fallon | Reuters

Investors in energy storage company Maxwell Technologies are suing to block the acquisition of the company by Tesla, Bloomberg reported on Tuesday.

The company makes components for electric batteries using a process that is significantly cheaper than those commonly used in the industry.

The deal has been valued at approximately $218 million.

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