Report: Panasonic ready to start big investment in Tesla Gigafactory Are you an aspiring New or Used Car Buyer looking for your dream car? Visit Cars4sa.co.za Filed under: EV/Plug-in, Manufacturing/Plants, Tesla Motors To paraphrase Dr. Evil from Austin Powers: International Man of Mystery, why spend a trillion when you could spend ... billions? Thats what Panasonic is saying about its investment in Teslas gigafactory, though theres a catch. The billions are in Japanese yen. Yes, Panasonic will invest tens of billions of yen into the Gigafactory slated for the great state of Nevada, Reuters says, citing comments from Panasonic Chief Executive Kazuhiro Tsuga. Thats not exactly specific, but 10 billion yen is equal to about $92 million. Weve heard Panasonics share of the new factory could be as high as $2-3 billion, but at least now we have a starting point Whatever Panasonics kicking in, Nevada is also ponying up a pretty penny. Last month, Tesla said it would build the factory near Reno after reaching an agreement that calls for about $1.2 billion in incentives from the state over a 20-year period. Tesla and lithium-ion battery maker Panasonic officially announced their gigafactory partnership in late July, though Panasonic wasnt talking numbers at the time. All told, the plant is expected to cost about $5 billion to build and is considered necessary for Tesla to reach the scale to build its planned $35,000 EV, the Model 3. Thats because the factory is will have the capacity to produce about a half-million (no, we didnt say billions) electric vehicles a year. Panasonic ready to start big investment in Tesla Gigafactory originally appeared on Autoblog Green on Fri, 10 Oct 2014 17:58:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
Posted on: Fri, 10 Oct 2014 22:13:04 +0000
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