29.07.2014 - Tesla Motors and Panasonic are expanding the business of manufacturing of batteries
Tesla Motors Corporation and Panasonic reached an agreement under which Panasonic plans to invest between 200 and 300 million dollars in a factory that will produce batteries for the car maker Tesla Motors. As a result, shares of Tesla Motors increased by 2.5% on Monday.
Tesla Motors plans to shut down production of batteries in Arizona, California, Nevada, New Mexico and Texas, in order to transfer all production at a single large production facility that could cost $ 5 billion and reach the target production capacity until 2020, when it will produce batteries for 500 thousand cars per year.
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