The Washington Post reports that Kingston Technology, which makes batteries for electric vehicles, will be acquired by the National Energy Board, the Federal Energy Regulatory Commission, and the Nuclear Regulatory Commission.
Kingston’s new battery business will focus on “smart energy” technology and products.
According to the Post, Kingston will make batteries for the Tesla Model S, the Chevrolet Volt, and electric vehicles as well as battery packs for electric power plants and utility-scale renewable energy systems.
The Post notes that the transaction will close by the end of 2018.
In addition to Tesla, Kingstone Technology will acquire Panasonic Corp., Mitsubishi Electric, Siemens AG, Toyota Motor Corporation, and others.
The acquisition is expected to close by mid-2019, according to the Times.
Kingston is also a shareholder in Energy Storage Technologies, the lead developer of the Advanced High-Performance Liquid Metal Battery, which it has sold to the U.S. government.
Posted by Timothy F. Geithner at 2:25 PM