Panasonic reviewing further investment in Tesla Gigafactory

TOKYO/BENGALURU - Panasonic Corp and Tesla Inc are holding off on further investment in the U.S. electric carmaker’s Nevada Gigafactory while they squeeze more out of existing resources and study market demand, the companies said on Thursday.

Tesla, whose shares fell nearly 3 percent in early trading, said it would continue to invest in the Nevada plant as need be but believed more output could be gained from its existing resources than previously thought.that financial issues had led the companies to rethink plans to expand the capacity of Gigafactory 1 by another 50 percent next year.

“Watching the demand situation, Panasonic will study additional investments over 35GWh in collaboration with Tesla.” Chief Executive Elon Musk also said in November the U.S. company would manufacture all its battery modules and packs at its new Shanghai factory and planned to diversify its sources.

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Panasonic says reviewing further investment in Tesla GigafactoryPanasonic Corp is studying further investments in battery production at its Giga... Actually Panasonic hasn't commented on this story, neither has Tesla. That’s cool but can I get one of these lol. I was attracted like a magnet when I seen this yesterday. I don’t get it. Panasonic is worried about slowing Tesla sales right? But if they could make more and better batteries for electric vehicles wouldn’t cost go down allowing for a larger consumer market? Note- i know nothing about real economics so please don’t curb stop me
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We rode in an electric truck from Thor, a start-up that aims to beat Tesla to marketThor Trucks' electric semis can haul 80,000 pounds of cargo and travel up to 300 miles on a single charge. CNBC praises this vehicle but bad mouths Tesla! Good work ! We also use InstaCryptoNews for fresh news I’m a Tesla 💯 but I love innovation. Well done 👍🏾
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