Reuters is reporting, via Nikkei, that Panasonic is inviting several key Japanese materials suppliers to join it in investing upwards of 100 billion yen (nearly $1 billion USD) in Tesla Motors' battery giga factory.

Panasonic 18650 High Capacity Lithium Batteries

Panasonic 18650 High Capacity Lithium Batteries

Key points from the Reuters article:

  • Giga factory to go on line in 2017 - Will take 2 to 3 years to build
  • Giga factory will "handle everything from processing raw materials to assembly, will produce small, lightweight batteries for Tesla and may also supply Toyota Motor Corp and other automakers."
  • Panasonic is not the only player expected to invest in the giga factory
  • Giga factory will require up to $6 billion in capital to make it a reality
We expect the official giga factory announcement to come from Tesla Motors sometime this week.  Until then, this is the latest news on this game-changing battery factory.

Source: Reuters