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February 27, 2014

Panasonic, suppliers may invest $1 billion in Tesla's U.S. battery plant: Nikkei




Reuters - Feb 25, 2014

Panasonic, suppliers may invest $1 billion in Tesla’s U.S. battery plant: Nikkei

Panasonic Corp (6752.T) is inviting a number of Japanese materials suppliers to join it in investing in a U.S. car battery plant that it plans to build with Tesla Motors Inc (TSLA.O), with investment expected to reach more than 100 billion yen ($979 million), the Nikkei reported.

Tesla shares also hit an all-time high on Tuesday after one brokerage firm set a new target price that suggested shares would rise almost 50 percent from Monday’s closing price.

The plant, expected to go on-stream in 2017, will bolster Panasonic’s supply of lithium-ion batteries to the U.S. electric-car maker.

Last week, Tesla shed some light on its plans for building a lithium-ion battery plant, or “giga factory,” that will cut battery costs and allow the company to launch a more affordable electric car in 2017. However, it said at the time that further details would be announced this week.

Read the full article here: Reuters - Panasonic, suppliers may invest $1 billion in Tesla’s U.S. battery plant: Nikkei

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