Tesla (TSLA), Panasonic Plan U.S. Battery Plant; Completion Expected in 2017
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Tesla Motors (Nasdaq: TSLA) and Panasonic could be looking to set up a battery plant in the U.S.
Japan's Nikkei said the duo would be looking to ebb manufacturing costs via mass production. While it wasn't made clear where the facility would be, the plant is speculated to come online in 2017.
Tesla would be the primary beneficiary of the plant, though the report said other auto manufacturers, like Toyota (NYSE: TM), might receive batteries from the facility.
Nikkei said that total investment in the plant is expected to be about ¥100 billion (around $965 million). Panasonic is inviting Japanese materials makers to form partnerships for the facility.
Later this week, its expected that Tesla will hold a conference call outlining plans for its 'Gigafactory.' Analysts largely expect that Tesla will branch out beyond making lightweight lithium-ion batteries for electric vehicles and aim to create an updated grid for U.S. alternative energy purposes.
Shares of Tesla are up 16.7 percent Tuesday.
Japan's Nikkei said the duo would be looking to ebb manufacturing costs via mass production. While it wasn't made clear where the facility would be, the plant is speculated to come online in 2017.
Tesla would be the primary beneficiary of the plant, though the report said other auto manufacturers, like Toyota (NYSE: TM), might receive batteries from the facility.
Nikkei said that total investment in the plant is expected to be about ¥100 billion (around $965 million). Panasonic is inviting Japanese materials makers to form partnerships for the facility.
Later this week, its expected that Tesla will hold a conference call outlining plans for its 'Gigafactory.' Analysts largely expect that Tesla will branch out beyond making lightweight lithium-ion batteries for electric vehicles and aim to create an updated grid for U.S. alternative energy purposes.
Shares of Tesla are up 16.7 percent Tuesday.
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