© Tesla Electronics Production | April 11, 2019
Panasonic & Tesla weighing further investments for it Gigafactory
Media reports from earlier on Thursday suggested that Panasonic and Tesla were suspending plans to expand their USD 4.5 billion Gigafacotry due to uncertain demand for electric vehicles. However, Panasonic says it is studying further investments.
A report in Japanese financial Daily Nikkei, states that the companies are freezing their plans to expand the production capacity at the Gigafactory 1, by another 50% next year, due to a weakening in demand. However, the Japanese company says that it is studying further investments at its Gigafactory venture with Tesla. “Panasonic established a battery production capacity of 35GWh in Tesla’s Gigafactory 1 by the end of March 2019 in line with growing demand,” Panasonic said, according to Reuters. The company says it is watching the demand situation and that it will study additional investments – over 35 Gwh – together with Tesla.