Panasonic Corp. President Kazuhiro Tsuga said the company will spend up to $1.6 billion on an advanced battery factory with electric-car maker Tesla Motors Inc., an investment it hopes to cement its future in automotive electronics. The Japanese consumer electronics giant and Tesla are jointly funding an up to $5 billion battery plant in Nevada. Panasonic hasn’t previously disclosed the full size of its investment. The battery investment is one element of Osaka-based Panasonic’s drive to become a major auto parts supplier, taking advantage of the computerization of the automobile and forecasts for robust global demand for light vehicles in coming decades. Read more in the full article by clicking on the link below.
Panasonic Investing Heavily in Tesla’s Gigafactory (Market Watch)