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Business deals

Tesla to buy California battery technology company for $218m

Electric car startup takes step to better compete against Nissan and Hyundai

The Model X gives Tesla a presence in the all-important crossover SUV market.   © Reuters
SHUJI NAKAYAMA, Nikkei staff writer | North America

NEW YORK -- Tesla plans to acquire a California-based battery technology company for $218 million, part of Elon Musk's efforts to make his electric car startup more price competitive.

Maxwell Technologies, the battery company, announced the deal on Monday in the U.S.

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