- Panasonic (PCRFY) is reportedly considering investing in a lithium-ion battery factory that Tesla is planning to build as part of its strategy of making more affordable electric vehicles.
- The "giga" factory would need almost ¥100B ($979M) to construct, and would make lightweight batteries for Tesla as well as for Toyota and other automakers.
- Panasonic is already Tesla's main supplier of batteries and said it wants to expand its collaboration with the U.S. company, although the Japanese firm declined to comment further.
- Last week, Tesla CEO Elon Musk said he expects Panasonic to be a partner in the facility.
- Panasonic's shares jumped 5.3% in Tokyo.
Reports: Panasonic mulls investment in Tesla battery factory
Feb 26 2014, 03:30 ET