Panasonic Expected to Invest Over $1 Billion In Tesla Battery Giga Factory
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.
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.