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Panasonic studying further investments in Tesla gigafactory: Report

Panasonic is reportedly reviewing its investments in battery production. According to Reuter, the company following a Nikkei report that stated that the “two had frozen spending plans”, said- Panasonic is studying further investments in battery production at its gigafactory joint venture with Tesla.

This is actually deepening concerns about demand for the carmaker’s electric vehicles.

Earlier on Thursday Nikkei Asian reported that financial issues led Tesla and Panasonic to rethink plans to expand the capacity of Gigafactory 1 by another 50 percent next year, having invested $4.5 billion in the plant.

Nikkei in a report without citing any source said Tesla and Panasonic had intended to raise capacity at the gigafactory by about 50 percent by 2020.

Bloomberg citing the newspaper reports that Panasonic also intends to suspend planned investment in Tesla’s battery and electric vehicle plant in Shanghai, and instead provide technical support and a small number of batteries from the existing gigafactory.

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