Panasonic is to invest an additional $100 million in a battery-making factory it is building in Nevada, US, according to Nikkei Asian Review.
The so-called “Gigafactory 1” is currently equipped with 13 production lines, but the new investment will enable Panasonic to add an extra line and increase capacity by 10 percent.
The expansion is intended to boost the supply of batteries to automaker Tesla for its electric vehicles. The original agreement between the two companies stipulated that Panasonic builds and equips the facility to produce batteries, while Tesla provides and manages the land and utilities. [Read more…] about Panasonic to invest extra $100 million in battery-making factory in the US