Tesla Gigafactory 1 to Boost Battery Production Capacity 10% After New $100 Million Panasonic Investment
Panasonic (OTC: PCRFY) will be investing over $100 million in Tesla's (NASDAQ: TSLA) Gigafactory 1 plant in Nevada to boost battery production capacity by 10% to 39 gigawatt-hours (GWh) per year.
The factory is part of Tesla's critical infrastructure producing electric motors and battery packs for the Model 3 and Model Y electric vehicles. While both companies have wanted to boost production for some time, their relationship has at times been strained, though higher Tesla sales seems to have cleared that up.
Image source: Tesla.
Source Fool.com
