Panasonic to send hundreds to Tesla Gigafactory

• Panasonic (OTCPK:PCRFY) plans to send hundreds of its employees to Tesla's (NASDAQ:TSLA) Gigafactory in Nevada from this autumn to prepare for production of lithium-ion batteries for electric cars, which it confirmed will start sometime next year.
• Panasonic also said it expects to invest around ¥60B ($478M) in the current fiscal year through March in its automotive business, which includes the Gigafactory and a joint development project with Spanish auto parts maker Ficosa International.